Governor Kathy Hochul has proposed increasing the state’s child tax credit to up to $1,000 per child under age 4 and $500 for children aged 4 to 16. The plan, part of her upcoming State of the State address, aims to reduce child poverty and provide financial relief for 1.6 million families.
Currently capped at $330 per child, the credit would rise starting in 2025 for lower-income families. Hochul’s office estimates this change could double the average credit and reduce child poverty by over 8%. Families earning less than $110,000 would benefit most, with new credits extending to some higher-income households.
Specific funding details for the plan, part of a broader affordability agenda, will be outlined in Hochul’s upcoming budget proposal.
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