New York to give out supplemental payments

New York Governor Kathy Hochul announced a $350 million initiative to provide supplemental payments to one million low- and moderate-income families, starting August 1. Families qualifying for the Empire State Child Tax Credit in 2023 will automatically receive checks, with amounts ranging from $330 per child based on their previous tax credit, intended to ease financial burdens as back-to-school season approaches. The expansion of this tax credit program is seen as crucial amid rising living costs, including a 23% increase in grocery prices over the past five years. While the initiative has garnered bipartisan support, some Republican leaders argue for broader fiscal reforms. Hochul emphasized the importance of this direct assistance, stating it acknowledges the financial struggles many families face. Critics, however, suggest that sustainable changes are needed beyond one-time payments.