Governor Hochul Proposes Inflation Refund for Millions of New Yorkers

By Y.M. Lowy
Governor Kathy Hochul has proposed New York’s first-ever Inflation Refund, offering direct payments to millions of people.
Hochul emphasized the urgency of helping families manage the cost of living. “It's your money,” she said. “It should go back in your pockets.” Highlighting rising costs for essentials like milk and diapers, Hochul noted, “Inflation may be coming down, but families still feel the squeeze.”
Funded by the increased state sales tax revenues, the plan would provide $300 checks for individuals earning under $150,000 and $500 for families earning under $300,000 annually.
The refund aligns with broader efforts to address affordability, including NYC Mayor Eric Adams’ recent proposal to cut income tax for lower-income residents. Both plans will be debated during the upcoming legislative session starting in January.
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