Budgeting for families in a normal year is challenging. The new year likely will bring additional financial challenges for many New Yorkers amid ongoing uncertainty over the pandemic.
At the next Zoom session of The Open Newsroom — our effort to make local journalism more collaborative — we want to hear your questions, concerns, experiences and tips in navigating some trying times.
We’ll discuss the Child Tax Credit, how to get it and what questions are top of mind for family budgeting for 2022. We’ll also start to delve into how government spending decisions affect people’s lives.
We’re inviting parents, teachers, advocates — and anyone else interested — to join us on Monday, Dec. 20, from 6 p.m. to 7:30 p.m. for our online conversation. We’ll keep these chats off the record, but will follow up with more reporting and an opportunity to connect with experts early in 2022 based on what you tell us you want — and need — to know.
In 2021, as New York began to slowly emerge from the COVID-19 pandemic, the Child Tax Credit in the American Rescue Plan provided critical cash to parents and caregivers across the country. For many families, monthly payments of $300 per child under age 6 and $250 per child ages 6 to 17 came directly to bank accounts.
Still, some New York families eligible for the credit have been unable to access this funding. The deadline to apply for Child Tax Credit payments was Nov. 15. If you were eligible, but missed that deadline, you can still claim the full credit by filing your taxes in 2022.
The Child Tax Credit is just one factor figuring into budgeting decisions for many local families. It’s also one example of how government decisions on all levels — local, state and federal — can affect people’s lives. The new year will bring a new administration to City Hall, a race for governor and midterm congressional elections with financial concerns likely at the forefront.
If you aren’t able to attend our Dec. 20 session but have questions for our team, please email email@example.com.