Assemblyman Proposes Increase to Childcare Tax Credit
More money could be coming back to your pockets after paying for child care services, that's the vision Assemblyman Ron Castorina.
Castorina announced on Thursday he's drafting a bill that would expand the state's tax credit to 25% for childcare services for children up to 13 years old. It is currently at 20%. The proposal would also relieve an income cap for eligibility. Castorina says some estimates for childcare in the city top over $16,000. He hopes the credit for childcare would help education and the economy.
"We want to give families the opportunity to give their kids a foundation that's solid. and also give parents the opportunity to go out and earn an income," said Castorina.
The Assemblyman says he will unveil his entire education package in January for the 2017 legislative session.