NEW YORK (PIX11) — A plan that is gathering support from lawmakers across the state would make it possible for families living in New York to obtain a child tax credit every three months.
On Thursday, Councilmember Alexa Avilés presented a resolution in support of legislation now being considered by state legislators to reinstate a child tax credit.
State Senator Andrew Gounardes, who introduced a measure in the state senate, accompanied her at a rally to show his support for the legislation.
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A tax credit for working families in the amount of $1,500 per kid would be available under his legislation.
According to a tweet published by Gounardes on Tuesday, “The enlarged federal tax credit was a big boost for millions of families; unfortunately, Congress failed to renew it.”
“New York State has the ability to step in and fill the void by passing my Working Families Tax Credit, which would provide families with a needed safety net to purchase their essentials. The credit would be for $1,500 per kid and would be prepaid four times each year.”
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The proposed legislation proposes for quarterly payments of the credit, with the amount of the credit being gradually reduced dependent on the recipient’s income.
Assemblyman Andrew Hevesi is the primary sponsor of a piece of legislation in the State Assembly that contains the identical language.
In the beginning, President Joe Biden’s $1.9 trillion coronavirus relief programme included an offer for a tax credit applicable to all children living in the country.
According to a report published by the Census Bureau in September 2022, it was a contributing factor in the decrease of child poverty by 46% since the year 2020.
The child tax credit was no longer available as of more than a year ago, and the final cheques were issued to families in December of 2021.
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According to the findings of a paper that was published on Tuesday by the NGO Robin Hood in partnership with Columbia University, the federal credit brought the rate of child poverty in New York City down by more than 30 percent in 2021.
Because of the credit, the likelihood of around 120,000 children slipping into poverty was significantly reduced.