New York is the only state with a refundable child tax credit that excludes low-income families from accessing the maximum amount, limiting its anti-poverty effect, experts say. If the governor’s proposal is enacted, that would finally change.
Families will be eligible for a supplemental payment this fall if they received the Empire State Child Credit when they filed 2023 tax returns. However, experts say the formula used to calculate payments is inequitable and excludes the lowest-income families from the maximum credit.
Both the Senate and the Assembly have included tax-related reforms in their “one-house” budget proposals that would impact those with Individual Taxpayer Identification Numbers (ITINs), often used by immigrant workers. Advocates say extending credits to this population would help reduce child poverty.
A new report by Citizens’ Committee for Children of New York, released Monday, analyzed pre-pandemic data to determine where the level of various risks to families’ well-being stood before the COVID-19 crisis.
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