Child tax credit expansion proposed: What it means for New Yorkers
NEW YORK (PIX11) – A proposal to expand New York's child tax credit would give families more money per child, Gov. Kathy Hochul announced on Monday.
Families with children under 4 years old who get the annual Empire State child credit would be eligible for up to $1,000 per child and those with kids between the ages of 4 and 16 could get up to $500, according to Hochul.
The current child tax credit gives families up to $330 per child.
Income eligibility will also be expanded to reach families making up to $200,000, Hochul said. For example, a family of four with a combined annual income of $170,000 would get over $500 per year, according to Hochul.
That family making $170,000 a year would not have qualified for money under the current child credit tax program, which is currently available for families making up to $110,000 per year, Hochul said.
An estimated 1.2 million children in New York City would benefit from the expanded program.
If the proposal goes through, families with children under age 4 will be eligible for the expanded child tax credit when they file their taxes for 2025. Those with kids between ages 4 and 16 wouldn't be eligible until the 2026 tax year.
Erin Pflaumer is a digital content producer from Long Island who has covered both local and national news since 2018. She joined PIX11 in 2023. See more of her work here.