Economic reports or studies by reputable institutions or government agencies

Hochul Proposes $3 Billion in Inflation Relief Checks for 8.6 Million New Yorkers

Dec 9, 2024, 05:06 PM

New York Governor Kathy Hochul has proposed sending $3 billion in one-time, direct payments to 8.6 million New Yorkers to alleviate inflation costs for working families. Under the plan, joint filers making less than $300,000 a year would receive a $500 check, while individual filers earning under $150,000 would get $300. The proposal, which requires legislative approval, aims to provide relief from the rising costs of living, including student loans, childcare, groceries, and rent. Hochul's initiative, dubbed the 'New York's first ever inflation rebate,' comes as part of her first State of the State proposal announced in Co-op City, where she also addressed the state's higher-than-expected sales tax revenue.