Governor’s budget would expand child tax credit
ALBANY, N.Y. (AP) — New York’s governor wants to expand the state’s child tax credit to help families cover the costs of raising children.
Gov. Andrew Cuomo’s recently released budget proposal would expand New York’s child tax credit to children under four. Currently, the state’s credit is equal to 33% of the pre-2018 federal child tax credit or $100 per qualifying child aged four to 16.
The Democrat says the move would help nearly 400,000 families with annual gross income of $50,000 or less who are struggling with the cost of raising children. Lawmakers in coming weeks are set to hold hearings on the governor’s budget proposal as they prepare to pass a budget by April 1.
Meanwhile, statewide coalitions representing child advocacy organizations, unions and child care providers and agencies say the governor’s budget doesn’t do enough to address the high cost of child care itself.
Advocates say high quality child care can cost $15,000 per child on average each year in New York.