“Inflation Refund” Checks Coming To Millions In New York

It's official! Millions of New Yorkers will be getting an "Inflation Refund Check" from New York State.

On Monday, New York State lawmakers finally passed the latest state budget.

New York State Passes $254 Billion Budget

The budget was passed nearly a month late. Highlights of the budget can be seen below. For many New Yorkers, the most exciting part of the budget is confirmation of what's been called "Inflation Refund Checks."

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Inflation Refund Checks Coming to Over 8 Million New Yorkers

New York State will send out New York's first-ever Inflation Refund checks, Governor Hochul's office confirmed to Hudson Valley Post in a press release.

"New York's first-ever Inflation Refund checks will dedicate $2 billion to provide direct cash assistance to more than 8 million New Yorkers with checks of up to $400 per family," Hochul's office states.

Direct payments will be made to around 8.6 million New York taxpayers statewide in 2025, according to Hochul's office.

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Below is a look at how many people will benefit, per region.

"Because of inflation, New York has generated unprecedented revenues through the sales tax — now, we're returning that cash back to middle-class families,” Governor Hochul stated.

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Officials say checks of up to $400 per family will help battle rising prices and give cash back to New Yorkers who need it most.

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