Gounardes: Working Families Tax Credit best way to reduce child poverty

January 7, 2025 Brooklyn Eagle Staff

Senator Andrew Gounardes. Photo courtesy of New York State Senate

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BROOKLYN — STATE SEN. ANDREW GOUNARDES applauded Gov. Kathy Hochul on her commitment to expanding New York State’s Child Tax Credit, yet is advocating for his amended version of the current tax credit system. His bill, dubbed the “Working Families Tax Credit,” would streamline and expand the current tax credit, according to a press statement from Gounardes’ office. A married couple with two kids making $110,000 annually receives a $660 credit under the current tax policy. Under the full Working Families Tax Credit, that same family would receive nearly $2,600, compared to about $1,500 under the governor’s current proposal.

Gounardes says the Working Families Tax Credit could slash child poverty in New York by nearly 16%, as compared to 8% under Hochul’s proposal.

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