State Sen. John Flanagan, R-Northport, joined New York State Senators this week in announcing support for the Family Tax Relief Act, a measure that will update and increase tax breaks which have not kept pace with inflation.
Some of the measures – such as the exemption for dependents – have not been updated in over a quarter century. As a result, the proposed exemption for dependents will more than double the current $1,000, up to a slated $2,020.
“This plan is designed to help those who work an honest day for an honest paycheck and who have continuously seen less and less of the money they earn. Simply put, it will allow our families to succeed as opposed to simply paying their bills," Flanagan said in a statement.
An increase in child care credits is proposed as well, the first one since 1999. Also Republicans have proposed restoring the STAR rebate check program, and increasing the child tax credit.