New York Governor Kathy Hochul announced that the state will distribute inflation refund checks to over 8 million residents as part of the fiscal year 2026 budget. This initiative, aimed at easing the financial burden of inflation, will return $2 billion to households. Eligible joint tax filers could receive between $300 and $400, while single filers may get $150 to $200. In addition, the budget proposes free school meals for 2.7 million students and tax cuts for over 75% of tax filers, promising significant savings for families across the state.
"The cost of living is still too damn high, so I promised to put more money in your pockets and we got it done," Hochul said.
"This is the first-ever inflation refund checks which is slated to put $2bn back into the pockets of millions of New Yorkers," Hochul's office stated.
"Money belongs to hardworking New York families and should be returned to their pockets as an inflation refund," according to the governor's office.
"The plan to ensure free school meals is expected to save families $165 per child in grocery spending each month," Hochul highlighted.
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