February 24, 2024
Dear Friends,
As many of you know all too well, we are one month into tax season. For many families, tax refunds represent the largest influx of cash they will receive all year, and are chiefly used to pay off debt, or purchase necessities.
While the deadline for filing 2023 taxes is weeks away and most are still getting their required documents in order, I’m sharing information to try to make this confusing and often stressful process as smooth as possible, and keep you updated on some of my efforts to make sure families get the benefits they deserve.
One of the most essential credits for millions of families is the Child Tax Credit. Enacted in 1997, this credit allows households to qualify for up to $2,000 per child to help lessen the burden of the costs of childrearing and childcare. In 2021 as part of our efforts to address the COVID pandemic, President Biden and Democrats advanced our American Rescue Plan that increased the maximum benefit to up to $3,600 and providing this benefit in monthly installments. That Child Tax Credit expansion lifted almost three million children across the country out of poverty, including 5,200 children living right here in the Capital Region, bringing the child poverty rate to record lows. Unfortunately, due to Republican opposition, that credit expired at the end of 2021, and as a calamitous result, the lapse caused the child poverty rate to jump back up.
I’ve continuously pushed to make this expansion permanent, and earlier this year, the House of Representatives made some headway to expand this vital benefit for families across the nation.
In strong bipartisan fashion, Republicans and Democrats came together to pass the Tax Relief for American Families and Workers Act. This bill would expand eligibility for the Child Tax Credit, especially for low-income families, and would also increase the credit for families that currently earn too little to claim the benefit in full. The nonpartisan Center on Budget and Policy Priorities estimates that this bill will benefit about 16 million children in low-income families in the first year of its implementation, including 25,000 kids right here in the Capital Region. Now this legislation awaits action in the Senate. I’m urging my Senate colleagues to pass this bill to help put money in the pockets of hardworking Americans and make childcare more affordable for families across our Capital Region and beyond.
This week, to highlight my push to expand the Child Tax Credit and speak more about this recent effort, I visited Creative Kids Childcare Center in Albany. I was honored to hear from Alphya Johnson, the Director of Creative Kids Childcare Center, employees, and parents of children at the center about the positive impact of the Child Tax Credit on their families and about the need to continue to bolster this vital benefit. I’m deeply thankful for their insights, which have only strengthened my resolve to get this needed action across the finish line. Our kids deserve no less.
As I work to improve this benefit, there are a number of other benefits that families can take advantage of this tax filing season, including the Child and Dependent Care Credit, the Earned Income Tax Credit (EITC), and more. To help parents and families navigate this tax filing season, I’ve created an informational flyer to help you learn more about the benefits available to you. Take a closer look by clicking the graphic below:
I hope this information will help those in our Capital Region access the benefits they deserve, and in the meantime, I will continue working to expand these benefits through the Tax Relief for American Families and Workers Act. This legislation, however, cannot be the end of the road. It must serve as a stepping stone to our broader goal to lift all our children out of poverty and set them on a path on which they can grow and thrive. In that effort, I will never stop.
As always, thank you for reading.
Your friend,
DID YOU KNOW?
My office and I are working to make sure you remain informed with the latest updates and recommendations from federal agencies. With that in mind, here is some information that may be of interest to you:
- This week, I held a virtual “Social Security 101” Informational Session to help constituents learn more about the benefits to which they are entitled.
- I was joined by a representative from the Social Security Administration, who provided expert guidance on how to apply for benefits and answered questions submitted by constituents. Those questions posed in the session included:
- Does the Social Security Administration offer language services for people applying for benefits?
- What happens when a claim for Social Security Disability gets denied? Can I appeal the decision?
- I lost my job. How does that impact my credits towards Social Security retirement?
- Many insights on the process for applying for Social Security benefits were also covered, including how to open a my Social Security account, the best age to start receiving retirement benefits, how to apply for disability benefits, and much more.
- Check out a recording of that webinar session HERE.
