ALBANY – Senator Cathy Young recently joined Senate Republican Leader Dean Skelos and members of the Senate Republican Conference to unveil the Family Tax Relief Act, a package of tax relief and reform measures designed to provide a major economic boost to New York’s struggling middle-class families.
The Senate Republican plan is being introduced in the Senate’s version of the state budget and would increase tax breaks that have not kept pace with inflation, and, in some instances, haven’t been adjusted for more than 25 years. The plan also restores the STAR property tax rebate check program to provide real and direct relief to millions of New Yorkers who pay some of the highest property taxes in the country.
Specifically The Senate plan would:
- More than double the value of the Dependent Exemption
- Increase the Child Tax Credit and provide an additional $500 child tax credit
- Increase the value of the Dependent Care Credit
- Restore STAR property tax rebate checks.
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