HOW BUILD BACK BETTER HELPS NY-04
Rep. Kathleen Rice (NY-04)
- In NY-04, a district with over 50,900 children under age 6, the child care market fails to serve 73% of young children.
- 29% of young children in NY-04 don’t have all available parents in the workforce, while over 120,000 parents make career sacrifices due to issues with child care.
- The average annual cost of infant care in New York is $15,394. Contrasted with the median income of $137,800 for a family of four in NY-04, infant care costs as a share of median family income in the district total approximately 11.1%
- The Build Back Better Act will provide universal pre-k to all 3-and 4-year olds, giving all children access to high-quality early education, and will ensure that no working family in NY-04 pays more than 7% of their income on child care.
Child Tax Credit
- In NY-04, approximately 5% of young children live in poverty.
- About 115,000 children in NY-04 qualify for the enhanced Child Tax Credit payments, and a total of 73,000 payments were made to NY-04 families in October.
- The average payment per household across the state of New York was $417.
- The Build Back Better Act will extend the fully refundable enhanced Child Tax Credit to provide up to $3,600 per qualified child until 2023.
- Extending the expanded Premium Tax Credits through 2025 could give NY-04 residents an average tax cut of $114.09 per tax filer.
- The Build Back Better Act could also lead to expanded Medicare coverage of hearing benefits for up to 141,553 residents in NY-04.
- 9.2% of adults in NY-04 have been diagnosed with diabetes; the Build Back Better Act will lower the price of insulin by placing a $35-per-month cap on the drug.
- 90% of registered voters in NY-04 support allowing Medicare to negotiate lower prescription drug prices.
- The Build Back Better Act will help ensure that drug costs do not increase faster than inflation by allowing Medicare to negotiate lower drug prices.
Earned Income Tax Credit
- The Build Back Better Act will extend the current expanded Earned Income Tax Credit for childless workers of up to $1,502 for one year.
- An estimated 46,000 working families in NY-04 will benefit from the expanded Earned Income Tax Credit.
- NY-04 is already home to 6,526 clean energy jobs, including 615 renewable energy jobs and 5,280 energy efficiency jobs. The Build Back Better Act will bring even more good-paying, green union jobs to NY-04.
- 85% of adults in NY-04 support providing tax rebates for energy-efficient vehicles or solar panels, and 74% believe corporations should do more to address global warming.
- The Build Back Better Act will make historic investments in clean energy technologies, and help middle class families save money transitioning to clean energy electrification.
- NY-04 faces an affordable housing shortage of over 13,766 homes, meanwhile, 30% of all renter households in the district are severely cost-burdened.
- The Build Back Better Act will make the largest investment in history for the construction, rehabilitation, and improvement of affordable housing.
- The Act will also make historic investments in rental and down payment assistance programs.