Choose Quality Full Resolution (5713 x 3808) Low Resolution (2856.5 x 1904) Headline: Syndication: Westchester County Journal News Caption: Gov. Kathy Hochul answers questions after speaking about the state’s housing crisis with Westchester business leaders at the Business Council of Westchester in Rye Brook March 15, 2023. Hochul Housing Created: 2023-03-15T16:00:55 Restrictions: FOR EDITORIAL USE ONLY Credit: © Tania Savayan/The Journal News / USA TODAY NETWORK
(Albany, NY) – Democratic Governor Kathy Hochul unveiled a plan on Monday (Dec. 9, 2024) to send “inflation refunds” to New Yorkers who fall under a certain income threshold. The checks would cost the state $3 billion and are meant to partially offset an inflation-fueled boost in sales tax residents paid in recent years, according to the governor’s office.
“It’s your money,” Hochul said at Co-Op City in the Bronx, where she announced her proposal. “It should go back in your pockets.”
Families who make less than $300,000 combined annually would be in line for a $500 check, according to the governor’s office. Individuals making less than $150,000 a year would be eligible for $300.
Hochul’s office estimates that 8.6 million New Yorkers would be eligible, including 3.6 million in New York City.
Her proposal — the first of what she’s calling her “affordability agenda” for 2025 — would require legislative approval. She’s set to include the plan in her state budget proposal, which she will unveil in January.
