Gov. Hochul Proposes $500 'Inflation Refund' Checks for New Yorkers

The $3 billion plan aims to return excess sales tax revenue to individuals earning under $150,000 and families earning under $300,000, but critics call it a political gimmick.

Gov. Kathy Hochul announced a proposal to send $300 checks to individuals earning under $150,000 and $500 checks to families earning under $300,000, funded by $3 billion in excess sales tax revenue.
The plan, positioned as relief for high living costs, must be approved by state lawmakers as part of the 2025 budget process, with checks expected to be distributed next fall if passed.
Critics, including Republicans and some analysts, argue the proposal is a short-term political maneuver that fails to address systemic issues like New York's high taxes and government spending.
Some economists warn that distributing rebate checks could exacerbate inflation and suggest that long-term tax reforms would be a more effective approach.
Hochul, facing low approval ratings and a potential re-election challenge in 2026, framed the proposal as part of her broader agenda to address affordability concerns for New Yorkers.