More than 8 million New Yorkers are set to receive inflation refund checks after Gov. Kathy Hochul announced a $2 billion plan as part of the state's 2026 budget. The move, billed as the state's first-ever such payout, is meant to offset the rising cost of living that has eaten into household incomes while inflating state sales tax revenues. "That money belongs to hardworking New York families and should be returned to their pockets," Hochul's office said, per the Guardian. The plan breaks down eligibility and payout: Joint filers earning up to $150,000 will get $400; those making up to $300,000 will see $300, per WPIX. Single filers earning up to $75,000 will receive $200; those with income up to $150,000 will get $150.
Details on when the checks will go out are expected soon. The new budget also includes free school meals for all of New York's 2.7 million public school students, covering breakfast and lunch. Officials estimate this will save families $165 per child each month on groceries. Hochul further announced plans to cut taxes for more than 75% of state filers, resulting in nearly $1 billion in annual relief for 8.3 million New Yorkers. Once fully phased in, the new rates will bring middle-class taxes to levels not seen in the state for 70 years, with projected average savings in the hundreds of dollars for most taxpayers. Hochul said the initiatives mark an effort to "put more money in your pockets" and address ongoing affordability concerns. (This content was created with the help of AI. Read our AI policy.)
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