NEWBURGH —Representative Sean Maloney (D, NY-18) discussed the American Rescue Plan’s expanded Child Tax Credit, Thursday afternoon, alongside local officials, business owners and parents.
The expanded Child Tax credit offers monthly benefits of $300 per month for children from birth to five years old, $250 per month for children six to 17 and a one-time payment of $500 for dependents 18-24 for households making an annual income of $150,000 per year, or less. These benefits are per child and can be received on a monthly basis or annually.
According to Maloney, this program will affect 90 percent of children in America. In his district alone, he estimates 128,000 children in 37,400 households will benefit, representing approximately 75 percent of children in the district. The average annual household benefit is estimated to be $2,900 and for impoverished households, an annual benefit of $5,100.
Maloney said this is the most important anti-poverty and family support
program to be launched within the last 50 years.
“It is Social Security for kids,” said Maloney. “It is, for the first time in America, all of us saying we value children, we value families, and we are going to put our money where our mouth is and I for one, am really excited that we’re going to start supporting working parents and families in this district.”
There is no application for the benefit. Anyone who had received a COVID stimulus check or filed their taxes within the past two years will automatically receive the money.
State Assemblyman Jonathan Jacobson (D-Newburgh) said the accessibility and ease of receiving the benefits are the best part of the program.
“There’s no better program than cash. There’s no bureaucracy. It goes to who needs it and it’s going to go directly there. This is tremendous,” said Jacobson.
Families in the Mid-Hudson region who are eligible for benefits will begin receiving the first round on July 15th. If there are any issues with receipt of benefits, Maloney and Jacobson encourage contacting one of their offices, or visiting the IRS website to provide the necessary information to begin receiving them.
