NY taxpayers could get up to $500 ‘refund’ checks under Hochul plan
"It's simple: the cost of living is still too damn high, and New Yorkers deserve a break."
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NY taxpayers could get up to $500 ‘refund’ checks under Hochul plan
Chris McKennaNew York State Team
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Most New York taxpayers would get checks for up to $500 from Albany next year under a new proposal by Gov. Kathy Hochul that must be approved by state lawmakers. Hochul announced her "inflation refund" idea on Monday as the first preview of her annual State of the State speech, set for Jan. 14.
Paying those sums to 8.6 million New Yorkers is expected to cost the state $3 billion — an expense that must be included in the state budget Hochul initiates in January and finalizes with state lawmakers by around April 1.
She cast the payments as a refund for excess sales tax New Yorkers have paid due to higher consumer prices, which has in turn hiked the revenue the state has collected. New York should now return some of that money "to help millions of hard-working New Yorkers," Hochul said in her announcement.
Cost of living in New York a major concern
"It's simple: the cost of living is still too damn high, and New Yorkers deserve a break,” she said.The proposal comes as New Yorkers continue to single out the state's high living costs as their top political issue, reaffirmed by Siena College poll results released Tuesday. Some 71% of New York voters taking part listed "cost of living" as one of their two biggest concerns, while 43% said addressing it should be Albany's top priority in 2025 — far more than any other topic.
When would checks arrive in New York?
The checks would arrive next fall as the Democratic governor seeks to shore up support for an expected run for a second full term in 2026. Her standing with voters rose slightly in Tuesday's Siena poll but remains low, with 39% of respondents saying they viewed her favorably and 46% saying they approved of her job performance.Here's what we know so far about the "inflation refund" checks:
Who would qualify for the payments and how much are they?
Individual taxpayers earning up to $150,000 a year would get $300 checks under Hochul's proposal. Couples filing a joint tax return with a total income up to $300,000 would get $500 checks.When would the checks come?
Hochul's announcement said the state would begin distributing the payments next fall, if lawmakers approve the plan. No other details were given about a start date or how long the check mailing would take.What were the initial reactions to the proposal?
Democrats hold large majorities in both legislative chambers and will likely decide its fate. Their leaders posted no immediate responses to Hochul's announcement, while Republicans and a potential Democratic primary rival for Hochul quickly scorned her "inflation refund" idea as a political gimmick and weak solution to a big problem."New Yorkers deserve permanent tax relief," Will Barclay, leader of the Assembly's Republicans, said in an X post. "Enough of the state 'nickel-and-diming' New Yorkers for every cent."
GOP Rep. Mike Lawler, who's weighing a 2026 run for governor, posted in response: "Taking thousands of dollars out of New Yorkers’ left pocket and then putting $500 in their right pocket isn’t a tax cut, it’s an insult. And it’s precisely why millions of New Yorkers have headed for the exits."
