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

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 nearly nine times the annual costs.

  • Expanding the Empire State Tax Credit to $1,000 per child for all children in New York City under 17, with the exception of high-income families, would cost about $1.1 billion and would generate about $9.8 billion in benefits to society.

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