New York families could receive up to $1,000 per child: Governor Hochul announces new Tax Credit expansion
Here’s how New York families could receive a hefty amount of money.
A new initiative by Governor Kathy Hochul of New York State could support more than 2.75 million children across the region. The proposal would give 1.6 million New York families an annual tax credit of up to $1,000 per child under age four and up to $500 per child from four through sixteen.
The official press release labelled the initiative “the single largest boost to New York’s child tax credit in its history” and pointed out that it would be “a significant increase above the value of the existing credit”.
“From groceries to strollers to kids’ clothes, the cost of living and raising a family is still too damn high — and that’s why we’re proposing a massive increase in New York’s child tax credit to put up to $1,000 per kid back in the pockets of hardworking families", Governor Hochul said.
“As New York’s first mom governor, I know how hard it can be for parents to make ends meet — and I’ll never stop fighting to make New York more affordable for every family“, he concluded.
The average credit given out to families will double from $472 to $943 and “deliver relief to many middle-class families whose incomes are currently too high to qualify.”
Another example given was that of a family with a three year old: they would benefit “from up to $1,000″ with money that “can be put toward child care, food and other essentials”; normally they would have qualified for zero dollars only two years ago.
When will people receive their child tax credit?
The credit will be implemented gradually over two years.
Defending reproductive rights. Protecting kids from distractions in the classroom. Making life more affordable.
— Governor Kathy Hochul (@GovKathyHochul) February 8, 2025
This week, we were hard at work building a brighter future for New Yorkers. pic.twitter.com/Z8iBCD71Ys
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Households with children under four will qualify for a $1,000 credit for the 2025 tax year, while those with children over four will receive a $500 credit for the 2026 tax year. The Empire State Child Credit is refundable, meaning it can either reduce taxes owed or be issued as a direct refund to taxpayers.
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