Stimulus: Some New Yorkers Will Get $800 Tax Credit

Rare piece of good news offered in tough times

View Comments (
)
|
Email
|
Print

    NEWSLETTERS

    TK
    Getty Images
    Do you qualify for a tax credit this year?

    The stimulus could create a job that you need or save the one you already have.

    The White House says it will add or preserve more than 200,000 jobs in New York, another 100,000 in New Jersey and about 41,000 jobs in Connecticut.

    The Bloomberg Administration spent Thursday crunching the numbers with fingers crossed, estimating the stimulus likely will prevent teacher pink slips. Also, $400 million could be earmarked for needy school districts. There's less certainty about money for school construction, however.

    NYPD is expecting the arrival of $25 million, plus money to hire as many as 400 police officers.

    Wondering if there are any benefits for non-government workers? Don't worry; good news might be on the way for you, too.

    If you live in New York and earn less than $150,000, you'll get a tax credit of somewhere between $400 and $800. Unemployed individuals will get about $100 more a month in their unemployment checks.

    If you have a family member in college, look for a college tuition tax credit of $2,500 per student. Single parents earning up to $90,000, and married couples making a combined $180,000 would qualify.

    Sen. Charles Schumer said the deal will be very good for the state.  He said New York can expect $12.6 billion in direct budget relief; as well as critical funding for education, infrastructure, weatherization and an increased college tuition tax credit and local law enforcement programs.

    And since we're talking about money, check out a couple of other recent stories from NBCNewYork.com that might help you fatten up the ole wallet:

    Does Your Home State Owe You Money?

    + Coupon Shopping Made Easy