NYC Expands Earned Income Tax Credit, Returns $345M to Residents

Aug 19, 2024, 09:00 PM

The New York City Mayor announced that the city has successfully expanded the Earned Income Tax Credit (EITC) for the first time in 20 years, resulting in $345 million being returned to working-class New Yorkers last year. This initiative has benefited over 746,000 residents. The expansion was achieved through advocacy efforts in Albany.