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Why Does This Matter?
Poverty in New York is at an all time high, with one in four children living in poverty in NYC. The combination of pandemic-era policies ending and the wealthiest New Yorkers and corporations paying less in taxes than working and middle class New Yorkers has created a huge inequality gap. The Working Families Tax Credit can help reduce this gap and keep more families from falling behind on paying their bills.
By eliminating many of the restrictions of current tax credits, the WFTC will result in a 13.4% reduction in children under the age of 18 living in poverty, with a 19.6% reduction for those under 18 living in deep poverty. Robust tax relief for New York’s families, especially those earning the lowest incomes, is among the most effective and equitable ways for New York State to fulfill its commitment to reduce child poverty and support family economic security.
How Can I Learn More?
To learn more about our Working Families Tax Credit campaign, visit our website and read our one pager!Â
We’re building on our wins for families: last year we won the inclusion of kids under four in the Empire State Child Credit. Now, almost ONE MILLION more households have access to up to $330 tax credit per child. Our state can make an even greater impact for New York families by expanding access to tax credits for immigrants who file taxes with an ITIN, older children, and our lowest-income families by passing the Working Families Tax Credit this session!
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