Governor Hochul Proposes Expansion To Child Tax Credit

Governor Hochul put forth today her second proposal of 2025, a historic expansion to the child tax credit program in New York. 

Hochul’s proposed plan would give around 1.6 million New York families an annual tax credit of up to $1,000 per child under the age of four, and up to $500 for children ages four through sixteen. This would be the largest increase to the child tax credit in New York history, with a significant increase from the current $330 maximum that is available. 

“From groceries to strollers to kids’ clothes, the cost of living and raising a family is still too 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.”

In New York City, the proposed expansion would put money back in the pockets of around 740,000 families with a total of 1.2 million children. Statewide it would ease the financial burdens of around 1.6 million families with a total of 2.75 million children. It is estimated that the program can reduce child poverty in New York by around 8.2%. 

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