ALBANY, N.Y. (WCAX) – Ahead of her State of the State address, New York’s governor is touting another bump to your bank account.
Governor Kathy Hochul proposed expanding New York’s tax credit for more than 2.75 million kids.
The plan would give 1.6 million Empire State families a tax credit of up to $1,000 dollars per child under the age of 4, and $500 for kids ages 4 to 16.
It would be the largest boost to New York’s child tax credit system in history.
“Raising a family is harder than it’s ever been before. Everything is up. And with so many parents raising young kids, we want more kids. We want more kids, it’s wonderful to see kids, but their own parents are aging,” said Hochul.
Hochul said this credit will help combat the stress of parenting after the surgeon general announced parenthood as a public health emergency.
The existing credit currently provides only up to $330 per child.
Hochul’s State of the State address is next week, January 14.