Assemblyman Dov Hikind (D-Brooklyn) is calling New York State Governor Andrew Cuomo’s inclusion of education tax credits in his budget bill a win for New York State and his community in particular. In his State of the State address, the governor proposed $100 million in funding for education tax credits–an initiative that Hikind has pushed for since its inception.
“For many years, offsetting the high cost of educating our children has remained highest on my list of priorities,” said Hikind. “As far back as 15 years ago, I began sponsoring bills to this effect and fighting hard for them, knowing that persistence was the key to this battle. This past November, when Governor Cuomo visited our community, I made it clear that assistance with the exorbitant cost of education was our community’s greatest desire. We made our case loud and clear and the governor heard us and promised his support.
“Today, Governor Cuomo showed once again that he is a man of his word. He proved that he understands our desire to give our children the very best education that we can provide and that nothing is more important than our children’s futures. I applaud Governor Cuomo for his leadership on this vital issue.”
Hikind cautioned that Governor Cuomo’s support of education tax credits does not mean the battle is over. “Last legislative session, the New York State Senate, led by my colleagues Senators Simcha Felder and Marty Golden, passed the Education Investment Tax Credit act. Today’s commitment from our governor is another very important step, but our work is far from done.”
Hikind also expressed his hope that today’s $100 million proposition will be vastly increased. He hailed the New York State Senate for today’s passage of the Education Investment Tax Credit bill which provides a maximum tax credit of 90 percent of individuals’ and corporate franchise taxpayers’ qualified contributions, capped at $1 million, plus any amount carried over from a prior year. The credit is capped at $150 million for 2016, $225 million for 2017, and $300 million for 2018 and thereafter.
“While many of my colleagues and I have pushed for these and similar measures for many years, I regard today as an important milestone,” said Hikind. “I will continue to work with Assembly Members Michael Cusick, Steven Cymbrowitz, Phillip Goldfeder, Michael Simanowitz, and many others to ensure that education tax credits become a reality and make a discerning difference in people’s lives.”