Congressman Tom Suozzi (D-Long Island, Queens) announced that New Yorkers will begin to see monthly payments of the expanded Child Tax Credit (CTC) on July 15th. Eligible families are expected to receive $300 per month for each child under the age of six and up to $250 per month for each child six and above. To qualify, you only need to file your taxes by May 17th.
“If you have children, you and your family may qualify for thousands of dollars beginning July 15th, said Suozzi. “You may receive $300 per month, per child. This is real life for real families.”
The American Rescue Plan expanded the child tax credit, increasing the yearly payouts to $3,600 for every child in your family under six years old, and $3,000 for children from six to 17. Older children age 18, and full-time college students aged 19 to 24, also qualify for up to $500.
The full payments are available for a single parent making up to $75,000 or joint filers making up to $150,000 per year. The credit phases out by $50 for every $1,000 of income over the $75,000 for individual filers and $150,000 for joint filers. The credit equals $0 for single filers with an income of $240,000 and married filers with $440,000.
Data on how the expanded Child Tax Credit will help families in different Congressional Districts across Long Island are found below.
- New York’s 1st District: 70% of the children in the district would benefit from monthly child tax credit checks, and 3,500 children will be lifted out of poverty.
- New York’s 2nd District: 70% of children in the district would benefit from monthly child tax credit checks, and 3,900 children will be lifted out of poverty.
- New York’s 3rd District: 56% of children in the district would benefit from monthly child tax credit checks, and 3,700 children will be lifted out of poverty.
- New York’s 4th District: 65.8% of children in the district would benefit from the monthly child tax credit checks, and 5,500 children will be lifted out of poverty.
- New York’s 5th District: 83.5% of children in the district would benefit from the monthly child tax credit checks, and 9,500 children will be lifted out of poverty.