Briefs

Gov. Hochul proposes major expansion of child tax credit

January 6, 2025 Brooklyn Eagle Staff

Gov. Kathy Hochul. Photo: Frank Franklin/AP

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STATEWIDE — MORE THAN 2.75 MILLION CHILDREN IN NEW YORK STATE stand to benefit from an historic expansion of the child tax credit that Gov. Kathy Hochul announced on Monday, Jan. 6. Hochul’s plan, announced as part of her 2025 State of the State address, would give 1.6 million New York families an annual tax credit of up to $1,000 per child under age four and up to $500 per child from four through sixteen. This proposal represents the single largest boost to New York’s child tax credit in its history and a significant increase above the value of the existing credit, which currently provides only up to $330 per child. The proposed expansion will give significant assistance to families with the youngest children and help families across the income spectrum. The average credit given out to families will double from $472 to $943. It will be instrumental in helping to address child poverty in New York State — and will also deliver relief to many middle-class families whose incomes are currently too high to qualify for the credit.

For example, under Hochul’s expanded child tax credit, a family of four with a toddler and school-age child, and a household income up to $110,000, would receive a credit of $1,500 per year — representing nearly $1,000 more per year than what that family receives under the current program.

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