April 22, 2013
By Stephanie West
A Middle Class Child Care Tax bill is being proposed by State Senator Simcha Felder and Assembly Member Herman D. Farrell, Jr.. The legislation they are sponsoring will make child care more affordable for parents by providing expanded assistance to New Yorkers with children under the age of 4.
Presently Child Care Tax Credits are only available for low-income families. This bill will expand the credit to include middle-class households. Currently, only households with adjusted gross incomes of $25,000 or less can benefit from the full tax credit for child care. The expanded credit will offer tax relief to parents with incomes of up to $170,000.
"The Child Care Tax Credit legislation is in keeping with my commitment to help middle class taxpayers and their families survive,” said Senate Sponsor Senator Simcha Felder (D-Brooklyn). “We have to do everything we can to ease the burden on taxpayers, and put money back into the pockets of hard-working New Yorkers where it belongs.”