The Costs and Benefits of Expanding the Empire State Child Tax Credit

Policy BriefBenefit-Cost Analysis
Written By Guest User

Key Findings

  • High quality research finds that cash and near-cash benefits increase children’s health, education, and future earnings and decrease health, child protection, and criminal justice costs.

  • The value to society that flows from these impacts is equal to over nine times the annual costs.

  • Expanding the Empire State Tax Credit to $1,000 per child for all children in New York State under 17, with the exception of high-income families, would cost about $2.7 billion and would generate about $26.2 billion in benefits to society.

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The Costs and Benefits of Expanding the Empire State Child Tax Credit in New York City

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