Senator Mark Walczyk and Assemblyman Ra have joined forces to support New York families through two bills aimed at enhancing the child tax credit and earned income tax credit. Introduced as part of a childcare package in 2024, these bills seek to provide financial support to families in the state.
Bill (S6838/A2492) proposes an increase in the Empire State Child Tax Credit from 33% to 45% of the federal credit. Since the expiration of the enhanced federal child tax credit in 2021, child poverty rates have doubled. Senator Walczyk stated, “By increasing the Empire State Child Tax Credit and allowing for advanced payments, we can provide much-needed support to families who are struggling.” Assemblyman Ra added, “When this tax credit was last increased in 2021, it had a direct impact on reducing child poverty levels to their lowest point on record.”
The second bill (S6839/A2498) aims to expand the Earned Income Tax Credit (EITC) to 45% of a taxpayer’s federal EITC amount from 2025 onwards. “Expanding the Earned Income Tax Credit will not only encourage families to remain in the workforce but will also provide them with greater flexibility,” said Senator Walczyk. Assemblyman Ra noted, “All of the bills I sponsor would provide increased tax incentives for those with young children.”
Both lawmakers emphasize the importance of supporting young working families and reducing childcare costs. These initiatives reflect their commitment to promoting the well-being of families and fostering economic stability in New York.
