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$1,000 child tax credit could be extended to thousands more children at state’s suggestion

LAWMAKERS in New York are discussing expanding the state child tax credit to include more children.

As it stands today, the Empire State Child Credit provides eligible families with up to $330 per year for each child over the age of four in the household.

Relief could be on the way for New York families.

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Relief could be on the way for New York families.

Couples with a combined income of $110,000 or less and individuals with an income of $55,000 or less are eligible.

Why children under the age of four are excluded from the tax credit is unclear, and lawmakers and advocates are working to change that.

In March 2021, a group of New York State Senators proposed a broad expansion of the child tax credit.

The bill included a family credit of $1,000 for each child four years of age or younger and $500 annually for children between the ages of five and 17.

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“743,000 New York City children live in poverty, with an additional 795,000 children living in low-income households living between 100% and 200% of the poverty line,” the bill reads.

The proposal went unvoted and the bill remains in committee.

The authors of the bill used Monroe County, New York to demonstrate how effective the change could be.

More than 20,000 children in the county would newly qualify for the expansion, and 45,000 would increase their benefit amount.

Monroe, which includes Rochester, NY, has a population of 741,770 and supporters of the bill predicted that poverty in the city would fall by 4%.

The expanded federal child loan, which expired in January, paid families with children under the age of 6 $3,600 in 2021, up from $2,000.

After its expiry, the urgency to expand the New York program to younger children has increased.

Elected officials and religious leaders held a March 20 event in Queens calling for vast expansion.

The group called for coverage for children up to the age of four and tiered payment increases for families based on income levels.

Under her proposal, families earning less than $10,000 would be entitled to $660, double the current credit.

No changes have been finalized in the Empire State, but expansions to the child allowance may be on the way soon.

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If you missed paying child allowances in 2021, you still have time to claim your money.

And check out the latest updates on nationwide stimulus plans to see if you can expect additional relief in the future.

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https://www.the-sun.com/money/5010578/child-tax-credit-expansion-new-york/ $1,000 child tax credit could be extended to thousands more children at state’s suggestion

CarmaHassan

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