Update: “Inflation Refund” Checks Coming To Millions In New York

Nearly 9 million in New York should be receiving a check from New York State in the near future.

As part of this year's state budget, Gov. Katy Hochul proposed New York State’s first-ever Inflation Refund.

Inflation Refund Check Part Of State Budget

The Inflation Refund is part of this year's state budget. Lawmakers have until April 1 to pass the budget.

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Gov. Hochul proposed $252 billion in spending, while the Assembly and Senate are calling for $256 billion and $259 billion dollars respectively.

Lawmakers across the state now must compromise on the budget's final price tag, but officials say an agreement should be reached before the deadline.

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More On Inflation Refund Checks, How Much Will You Get?

Once passed, the first-ever Inflation Refund will deliver about $3 billion in direct payments to around 8.6 million New York taxpayers statewide in 2025, according to Hochul's office.

"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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This refund will send a $300 payment to single taxpayers who make up to $150,000 per year, and $500 payment for joint tax filers making up to $300,000 per year.

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