Hochul Proposes $500 'Inflation Refund' Checks for 8.6M New Yorkers, Awaiting Legislative Approval

Dec 9, 2024, 03:36 PM

New York Governor Kathy Hochul has proposed an 'Inflation Refund' initiative, aiming to provide financial relief to New Yorkers due to rising costs in various sectors like student loans, childcare, groceries, and rent. Under this plan, joint filers earning less than $300,000 annually would receive a $500 check, while individual filers making less than $150,000 would get a $300 check. This proposal, which requires legislative approval, is intended to benefit approximately 8.6 million New Yorkers. Hochul announced this as her first State of the State proposal in Co-op City, calling it New York's first ever inflation rebate.