Working Families Tax Credit
Published on February 27th, 2023
Memorandum of Support
Re: S277-A Gounardes / A4022-A Hevesi
Relates to a working families tax credit
The above referenced legislation would create the New York State Working Families Tax Credit by streamlining the Earned Income Tax Credit and the Empire State Child Tax Credit. The New York State Catholic Conference wholeheartedly supports this proposal.
The federal extended tax credit lifted millions of children out of poverty but has tragically since expired without being renewed. The Working Families Tax Credit proposed by this legislation would provide direct cash assistance of up to $1,500 per child and would be paid quarterly instead of annually. This targeted support would ensure families with the lowest income receive the largest credit and guarantee every family a minimum of $500. This proposal would also close a gap by providing the credit for children from birth to age four, an extremely important measure that will make a critical difference for so many families.
New York is facing trying times. The current affordability crisis is forcing parents to make difficult decisions in caring for their children. This legislation is an important step toward creating the supportive environment that