New York Gov. Kathy Hochul has proposed a one-time payment of $300 to individuals making less than $150,000 and $500 to couples making less than $300,000, her office said Monday. Announced.
In what would be the state's first “inflation rebate,” Hochul hopes to send hundreds of dollars to about 8.6 million New Yorkers starting in the fall of 2025, if approved by Congress, officials said. press release said.
About $3 billion in taxpayer funds will be allocated for the payments, which the governor called a “respite” for voters.
“Thanks to inflation, New York has generated unprecedented revenue through the sales tax, and now we're returning that cash to middle-class families,” Hochul said. “My agenda for next year is focused on putting money back in your pockets, starting with proposing inflation refund checks of up to $500 to help millions of hard-working New Yorkers. Why? It's simple: The cost of living is still too high, and New Yorkers deserve a break.”
“New York residents who recently filed a tax return will be eligible for the payment,” the press release said.
“Single, head of household, or married taxpayers filing separately are eligible if their income is $150,000 or less. Resident couples filing jointly are eligible if their income is $300,000 or less. If so, you are eligible,” Hochul’s office said.
In the X post announcing his proposal, Hochul said there were no “loopholes” or “BS”, just “money you can use to pay your bills.”
