New York Governor Kathy Hochul is proposing to increase the child tax credit as part of her agenda this year.
Governor Hochul’s plan would give more than a million and a half families a tax credit of up to one thousand dollars per child under age four and up to 500 dollars per child from four through sixteen. The current tax credit is up to 330 per child. Richard Buery with the Robin Hood foundation says the increased child tax credit is much needed.
"The rising costs of housing, childcare, food, other bills are stretching budgets for poor families, for working class families, for middle class families beyond their limits."
The tax credit would be phased in over two years. This is part what Governor Hochul calls her Affordability Agenda for this year.