On Monday, December 9 th , Governor Hochul announced that her first State of the State proposal is delivering around $3 billion in one-time direct payments to around 8.6 New York taxpayers next year. Under the proposal, which the Governor is calling an Inflation Refund, single taxpayers who make up to $150,000 per year would receive a check for $300, and joint tax filers making up to $300,000 per year would receive a $500 check. Governor Hochul hopes the checks will help address the impact inflation has had on the prices of everyday goods. “Because of inflation, New York has generated unprecedented revenues through the sales tax – now, we’re returning that cash back to middle class families,” the Governor said. “My agenda for the coming year will be laser-focused on putting money back in your pockets, and that starts with proposing Inflation Refund checks of up to $500 to help millions of hard-working New Yorkers. It’s simple: the cost of living is still too damn high, and New Yorkers deserve a break.”
The regional breakdown of estimated recipients is:
Region Estimated Recipients
New York City – 3,645,000
Long Island – 1,344,000
Hudson Valley – 986,000
Western New York – 620,000
Finger Lakes – 542,000
Capital Region – 502,000
Central New York – 340,000
Southern Tier – 263,000
Mohawk Valley – 208,000
North Country – 163,000
Total About 8.6 Million
The Governor’s full press release on the proposal can be found here:
https://www.governor.ny.gov/news/money-your-pockets-governor-hochul-proposes-sending-86-million-new-yorkers-inflation-refund