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Home Metro

New York Distributes $350 Million in Child Tax Credit Payments

Mona Davids by Mona Davids
August 7, 2024
in Metro, Politics
Urban Family Exodus Persists: Major U.S. Cities See Sharp Decline in Young Children
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On Tuesday, August 6th, New York Governor Kathy Hochul announced the distribution of approximately $350 million in supplemental Empire State Child Tax Credit payments to more than one million low- and moderate-income families. These payments, up to $330 per child, are part of the state’s effort to provide financial relief to working families as they prepare for the new school year.

The initiative, which began with the mailing of the first round of checks, aims to support families without requiring them to apply for the benefit. Eligibility is automatically determined based on the 2023 tax filings of families who qualified for the Empire State Child Tax Credit. This includes married couples earning $110,000 or less, single parents making $75,000 or less, and married individuals filing separately who make $55,000 or less. The supplemental payments range from 25% to 100% of the taxpayer’s previous Child Tax Credit, depending on income levels.

Governor Hochul emphasized the importance of these payments in alleviating the financial burden on New York families. “As New Yorkers get started with back-to-school shopping for their kids, we’re putting some money back in their pockets,” she stated. “My team is making sure these supplemental payments reach every eligible New Yorker – and I’m going to keep working every day to address the cost of living for working parents across our state.”

The supplemental payments are part of a broader effort by Governor Hochul’s administration to address the high cost of living and support working families. Since 2022, the state has delivered over $2.6 billion in supplemental payments and savings to New York taxpayers. This includes the 2022 homeowner tax rebate credit, supplemental Earned Income Tax Credit, and gas tax suspension.

In addition to the Empire State Child Tax Credit, Governor Hochul has also expanded access to affordable childcare through the Child Care Assistance Program (CCAP). This program, supported by a $1.8 billion investment, covers over 90% of market-rate childcare costs for eligible families, further easing financial pressures on working parents.

State officials, including Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie, praised the initiative, highlighting its critical role in making New York more affordable for families. 

Stewart-Cousins said, “Affordability for New Yorkers was a big focus in this legislative session. I am proud that under my leadership the Senate Majority has proudly fought to make childcare more affordable for working families, including expanding the child care assistance program to expand income eligibility, making more families eligible for the program, and supporting families with the greatest need. The one-time supplemental payments under the Empire State Child Tax Credit Program will be life-changing for families across our state, and comes at such a vital time when so many are struggling with the high cost of living.”

Assembly Speaker Heastie said, “This supplemental credit will provide much-needed relief to 1 million families across our state by putting money directly back into their pockets. The Assembly Majority is committed to making our state a more affordable place to raise a family, and giving them more financial flexibility is an important piece of that. We will continue to work with our colleagues in the Senate and with the governor to put New York families first.”

The supplemental payments are expected to provide much-needed relief as families navigate rising living costs and prepare for the upcoming school year.

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