City Council Speaker Christine Quinn and state Sen. Simcha Felder announced this weekend proposed legislation that would expand the child care tax credit to middle-class families earning up to $170,000.
The Middle Class Child Care Tax Credit would expand the credit that is currently only offered to families who make $25,000 or less.
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“We must rein in the skyrocketing cost of child care and make it affordable for all New Yorkers,” Quinn said.
The average cost of daycare in the city was $14,000 in 2012, according to a statement from Quinn's office.
Parents with children under the age of 4 will be eligible for the credit. If the legislation is implemented, middle-class families would receive up to $1,000 for one child in tax credits and $2,000 for two or more children.
Expanding the tax credit bracket would cost an estimated $32 million in public money, the New York Post reports.