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Add NYC appendix for WFTC
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Fixes #2318
DTrim99 committed Jan 23, 2025
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32 changes: 16 additions & 16 deletions src/posts/articles/ny-wftc.md
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@@ -24,14 +24,14 @@ Table 1 displays how each policy changes by year, with 2025 as the first year of

**Table 1: New York’s Family Tax Policies by Year After Passage of S277C**

| Tax Year | Empire State Child Credit | NY EITC for filers with WFTC-qualifying dependents | Dependent Exemption | WFTC Maximum Benefit | WFTC Minimum Benefit | WFTC Phase-out Thresholds |
| :--------------------: | :-----------------------------------------: | :------------------------------------------------: | :--------------------------------------------: | :------------------: | :------------------: | :-----------------------: |
| **2024 (Current Law)** | 33% Match of 2017 CTC; $100 Minimum Benefit | 30% Match of Federal EITC | $1,000 for All Dependents | N/A | N/A | N/A |
| **2025** | Eliminated | 25% Match | $1,000 for All Dependents | $550 | No Minimum | $75,000/ $110,000 |
| **2026** | Eliminated | 20% Match | $1,000 Only for Non-WFTC Qualifying Dependents | $854\* | $100 | $65,000/ $110,000 |
| **2027** | Eliminated | 15% Match | $1,000 Only for Non-WFTC Qualifying Dependents | $1,091\* | $100 | $55,000/ $110,000 |
| **2028** | Eliminated | 10% Match | $1,000 Only for Non-WFTC Qualifying Dependents | $1,338\* (Expanded to 17-year-olds) | $100 | $45,000/ $90,000 |
| **2029** | Eliminated | Eliminated | $1,000 Only for Non-WFTC Qualifying Dependents | $1,822\* | $100 | $28,462/ $56,924\* |
| Tax Year | Empire State Child Credit | NY EITC for filers with WFTC-qualifying dependents | Dependent Exemption | WFTC Maximum Benefit | WFTC Minimum Benefit | WFTC Phase-out Thresholds |
| :--------------------: | :-----------------------------------------: | :------------------------------------------------: | :--------------------------------------------: | :---------------------------------: | :------------------: | :-----------------------: |
| **2024 (Current Law)** | 33% Match of 2017 CTC; $100 Minimum Benefit | 30% Match of Federal EITC | $1,000 for All Dependents | N/A | N/A | N/A |
| **2025** | Eliminated | 25% Match | $1,000 for All Dependents | $550 | No Minimum | $75,000/ $110,000 |
| **2026** | Eliminated | 20% Match | $1,000 Only for Non-WFTC Qualifying Dependents | $854\* | $100 | $65,000/ $110,000 |
| **2027** | Eliminated | 15% Match | $1,000 Only for Non-WFTC Qualifying Dependents | $1,091\* | $100 | $55,000/ $110,000 |
| **2028** | Eliminated | 10% Match | $1,000 Only for Non-WFTC Qualifying Dependents | $1,338\* (Expanded to 17-year-olds) | $100 | $45,000/ $90,000 |
| **2029** | Eliminated | Eliminated | $1,000 Only for Non-WFTC Qualifying Dependents | $1,822\* | $100 | $28,462/ $56,924\* |

_\* Indexed for inflation from 2023_

@@ -132,15 +132,15 @@ We invite you to explore our [additional analyses](https://policyengine.org/us/r

## Appendix B: Impact of Senate Bill S277C for Tax Years 2025–2029 in NYC

PolicyEngine’s microsimulation model can also calculate the impact of Senate Bill S277C on New York City and its population. The table below displays the effect of the NY WFTC on NYC including the net tax benefits, percentage of residents affected, and change in poverty.
PolicyEngine’s microsimulation model can also calculate the impact of Senate Bill S277C on New York City and its population. The table below displays the effect of the NY WFTC on NYC including the net tax benefits, percentage of residents affected, and change in poverty.

| Tax Year | Net Tax Benefits ($ million) | People with Increased Net Income | People with Reduced Net Income | Poverty | Deep Poverty | Child Poverty | Deep Child Poverty |
|-----------|---------------------------|--------------------------------|------------------------------|---------|--------------|---------------|-------------------|
| **[2025](https://policyengine.org/us/policy?focus=policyOutput.policyBreakdown&reform=72622&region=nyc&timePeriod=2025&baseline=2)** | 302 | 31.9% | 0.0% | -0.6% | -1.3% | -1.3% | -4.6% |
| **[2026](https://policyengine.org/us/policy?focus=policyOutput.policyBreakdown&reform=72622&region=nyc&timePeriod=2026&baseline=2)** | 520 | 32.5% | 0.1% | -0.4% | -5.4% | -1.0% | -14.7% |
| **[2027](https://policyengine.org/us/policy?focus=policyOutput.policyBreakdown&reform=72622&region=nyc&timePeriod=2027&baseline=2)** | 753 | 33.8% | 0.1% | -2.4% | -6.2% | -5.6% | -19.5% |
| **[2028](https://policyengine.org/us/policy?focus=policyOutput.policyBreakdown&reform=72622&region=nyc&timePeriod=2028&baseline=2)** | 1,005 | 35.2% | 0.0% | -4.1% | 7.8% | -9.5% | -24.3% |
| **[2029](https://policyengine.org/us/policy?focus=policyOutput.policyBreakdown&reform=72622&region=nyc&timePeriod=2029&baseline=2)** | 1,341 | 35.7% | 0.0% | -5.7% | -8.5% | -13.9% | -28.6% |
| Tax Year | Net Tax Benefits ($ million) | People with Increased Net Income | People with Reduced Net Income | Poverty | Deep Poverty | Child Poverty | Deep Child Poverty |
| ------------------------------------------------------------------------------------------------------------------------------------ | ---------------------------- | -------------------------------- | ------------------------------ | ------- | ------------ | ------------- | ------------------ |
| **[2025](https://policyengine.org/us/policy?focus=policyOutput.policyBreakdown&reform=72622&region=nyc&timePeriod=2025&baseline=2)** | 302 | 31.9% | 0.0% | -0.6% | -1.3% | -1.3% | -4.6% |
| **[2026](https://policyengine.org/us/policy?focus=policyOutput.policyBreakdown&reform=72622&region=nyc&timePeriod=2026&baseline=2)** | 520 | 32.5% | 0.1% | -0.4% | -5.4% | -1.0% | -14.7% |
| **[2027](https://policyengine.org/us/policy?focus=policyOutput.policyBreakdown&reform=72622&region=nyc&timePeriod=2027&baseline=2)** | 753 | 33.8% | 0.1% | -2.4% | -6.2% | -5.6% | -19.5% |
| **[2028](https://policyengine.org/us/policy?focus=policyOutput.policyBreakdown&reform=72622&region=nyc&timePeriod=2028&baseline=2)** | 1,005 | 35.2% | 0.0% | -4.1% | 7.8% | -9.5% | -24.3% |
| **[2029](https://policyengine.org/us/policy?focus=policyOutput.policyBreakdown&reform=72622&region=nyc&timePeriod=2029&baseline=2)** | 1,341 | 35.7% | 0.0% | -5.7% | -8.5% | -13.9% | -28.6% |

[^1]: In addition to the discussed exceptions for the NY EITC under Senate Bill S277C, [households with both WFTC qualifying dependents and older dependents](https://www.nysenate.gov/legislation/bills/2023/S277/amendment/C) would continue to receive their full EITC until year five (2029), at which point they would receive the more generous WFTC for dependents who qualify and the EITC only for older dependents who are outside of the WFTC qualifying ages.

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