More Low-Income New Yorkers Are Saving Tax Refunds, Officials Say

Low-income New Yorkers built up $250,000 in savings last year by putting their tax refunds in the bank as part of an incentive program, officials said Monday.

City officials on touted what they say is the success of the Save USA program during a press conference at a Corona, Queens, church on Monday. The program gives participants a 50 percent match if they put at least $200 in a savings account for a year.

"I don't think we can find that anywhere else out there," said Raymond Garcia, from Elmhurst, Queens, who participated last year.

Officials also announced the 10th annual Tax Credit Campaign, which offers free tax assistance, and helps New Yorkers take advantage of the Earned Income Tax Credit and other breaks. Garcia' says he's been participating in that program for four years.

Officials say the program has helped New Yorkers claim almost $20 billion in federal, state and city refunds.