New York Gov. Kathy Hochul and state lawmakers have agreed on an FY2024 New York budget that includes an expanded child tax credit. The state’s child tax credit will extend to children under 4 years old, which could eventually increase New York tax refunds by $500, or more, for some filers. The $229 billion bill passed late Tuesday, over a month later than planned.
What was important was "not a race to a deadline, but a race to the right results," Hochul said when announcing the agreement, adding, "I promised New Yorkers we'd make our state more affordable, more livable, and safer, and this budget delivers on that promise."
