Governor Hochul Proposes Cuts To Community Colleges

Over the years, Community Colleges have gotten 1/3 funding from the state, 1/3 from the county where the community college is located, and 1/3 from the student.   In the state budget hearings Thursday, GOP State Senator Tom O’Mara talked with SUNY Chancellor John King about the governor’s proposed budget cuts to community colleges.  O’Mara said that the way the governor has things worked out, the state would be paying $100 million dollars less than the counties.  SUNY Chancellor King says, that’s why the community college presidents are asking for $97 million dollars, to cover operating costs.

 

Does Your Town, Village, Or Business, Need A Grant?

Assemblyman Phil Palmesano (R,C-Corning) is sending his “February Grant Action News Update” to residents, organizations and local governments regarding a series of grants available from the state, federal government and private entities. Each month, the Assembly provides an updated list of grants for a variety of categories.

“During a time of economic recovery, grants can play an integral part in helping our local communities complete needed infrastructure repairs or support underfunded projects,” said Palmesano. “Many people don’t realize the scope of available opportunities because they aren’t sure where to look. The ‘Grants Action News’ bulletin makes finding these grants much easier by consolidating the information and making it available to everyone. I hope residents, organizations and local governments throughout the Southern Tier and Finger Lakes regions will be able to use this resource to find much-needed support to strengthen communities in our rural area.” The update can be accessed here:

https://nyassembly.gov/gan/?sec=story&story=108954

 

Gillibrand Wants To Expand The Child Tax Credit

U.S. Senator Kirsten Gillibrand held a video press conference to call for the passage of the Tax Relief for American Families and Workers Act and revealed how the expanded child tax credit included in it would help New York families. The expansion would make it easier for low-income families to qualify for the Child Tax Credit (CTC), adjust the credit for inflation, and help lift an estimated 400,000 children out of poverty.   “The Child Tax Credit is a lifeline for working families and one of the best tools we have for fighting child poverty,” said Senator Gillibrand. “The Child Tax Credit expansion expired at the end of 2021, and since then, child poverty has more than doubled nationwide. That’s unacceptable. This credit would benefit nearly 900,000 New York kids and save the average family nearly 700 dollars per year. I am calling on my colleagues to pass the expanded CTC to provide additional support to kids most in need.” 

 

The expanded Child Tax Credit would: 

1. Provide a larger CTC for low-income families with more than 2 children: The original CTC is calculated by multiplying a family’s income above $2,500 by 15%. The expanded CTC multiplies the family’s income above $2,500 by 15% and also by the family’s number of children. 
2. Allow taxpayers to use their income from either the current or prior year in calculations. Since the original CTC requires a parent to have at least $2,500 in annual income to qualify, this change would ensure that families whose income suddenly drops can still qualify.
3. Adjust the CTC annually for inflation in 2024 and 2025.
4. Modify the Overall Limit on Refundable Child Tax Credit: Under current law, the maximum refundable child tax credit is limited to $1,600 per child for 2023, even if the earned income limitation described above is in excess of this amount. This provision increases the maximum refundable amount per child to $1,800 in tax year 2023, $1,900 in tax year 2024, and $2,000 in tax year 2025.

More information about the Child Tax Credit is available here. Families can calculate how much they would gain from the expanded child tax credit here.