Plan Revealed For $500 Inflation Refund Checks For New Yorkers

Governor Hochul has announced a plan for 2025 to put $3 billion back in the pockets of New Yorkers.

Families across New York state feel the effects of inflation and higher cost of living every day. Gas, groceries, housing, and pretty much everything has gotten much more expensive over the last few years.

Inflation has also led to increased sales tax revenue for the state, and Governor Hochul has announced a plan to put that revenue surplus back into the bank accounts of taxpayers.

Governor Hochul Announces Inflation Refund Plan

According to WKBW, Governor Hochol revealed a plan to send refund checks to New Yorkers in 2025 to help curb the effects of inflation. The plan would send $3 billion in refund checks to approximately 8.6 million New York residents.

Hochul said the extra revenue generated by sales tax due to inflation will fund these payments to the middle class.

Who Qualifies For The Rebate Checks?

WKBW says families making less than $300,000 will receive a check for $500 and single taxpayers making less than $150,00 would receive $300 under the proposed plan.

WKBW says if the plan is approved checks would go out in Fall 2025.