Approximately 8.2 million New York households will begin receiving “inflation refund checks” starting in October as part of the state’s new $254 billion budget plan, Governor Kathy Hochul announced Wednesday. The payments, intended to help residents cope with the rising cost of living, will be distributed automatically to eligible taxpayers. No application is necessary.
“Starting in October, over 8 million New Yorkers will get an inflation refund because it’s simple — this is your money and we’re putting it back in your pockets,” Hochul said in a statement.
The governor explained that checks will be sent by mail to residents who filed a New York State income tax return for the 2023 tax year and meet income requirements. According to the New York Post, individuals with a state-adjusted gross income of $150,000 or less and joint filers with $300,000 or less will qualify.
The refund amount will vary based on income and filing status. Individual filers earning $75,000 or less will receive $200, while those earning between $75,000.01 and $150,000 will receive $150. The maximum payment for households under the plan is $400.
Hochul described the initiative as part of her administration’s broader efforts to support working families.
“I’ll never stop fighting to help your family address the rising cost of living — and that’s why I also delivered on my promise to cut taxes for the middle class, expand the child tax credit and ensure free school meals for every student,” she said.
