A Tax Credit for Working New Yorkers
New York State’s Earned Income Tax Credit (EITC) is a proven program that working New Yorkers rely on. The EITC keeps more money in workers’ pockets, providing more money to spend on essentials like food, transportation, housing, education, and child care. The EITC is a critical support for workers, their families, local economies, and the state!
Before the pandemic, far too many New Yorkers were unable to earn a stable and sufficient income through work. This problem persisted despite the recent increases to our state’s minimum wage. Then COVID struck and the pandemic’s economic disproportionately affected our state’s part-time, hourly, and minimum wage workers, particularly women, Black and Latinx workers.
- In 2018 alone, the EITC boosted the incomes of over 1.4 million New Yorkers stabilizing the workforce, families, and local communities.
- Expanding the EITC to close loopholes and increase eligibility should be part of New York State’s pandemic recovery plan.
by Cara Long Corra, Senior Policy Analyst, Fiscal Policy Institute
A Tax Credit for Working New Yorkers
New York State’s Earned Income Tax Credit (EITC) is a proven program that working New Yorkers rely on. The EITC keeps more money in workers’ pockets, providing more money to spend on essentials like food, transportation, housing, education, and child care. The EITC is a critical support for workers, their families, local economies, and the state!
Before the pandemic, far too many New Yorkers were unable to earn a stable and sufficient income through work. This problem persisted despite the recent increases to our state’s minimum wage. Then COVID struck and the pandemic’s economic disproportionately affected our state’s part-time, hourly, and minimum wage workers, particularly women, Black and Latinx workers.
- In 2018 alone, the EITC boosted the incomes of over 1.4 million New Yorkers stabilizing the workforce, families, and local communities.
- Expanding the EITC to close loopholes and increase eligibility should be part of New York State’s pandemic recovery plan.
by Cara Long Corra, Senior Policy Analyst, Fiscal Policy Institute