A day after her State of the State address focused on affordability, New York Governor Kathy Hochul was in Troy Wednesday to promote increases in childcare subsidies.
Hochul wants to increase the Child Tax Credit to $1,000 for kids under 4 and $500 for kids ages 4 to 16. She’s also proposed lowering middle class taxes and issuing tax rebate checks to most New Yorkers.
Speaking with reporters after visiting a childcare center, Hochul says the state will not have to dip into reserves to cover the tax cuts.
“I have managed our budget over the last three years to ensure that we went from 4% reserves to over 15% so we're ready for a rainy day, and it's not raining,” Hochul said. “I'm saving that for a difficult economic downturn.”
Hochul will present her state budget next week.
