New Year, New Refund Checks? Gov. Kathy Hochul Has Proposed To Give Out $300 In 2025

Governor Hochul delivered her first proposal from the 2025 State of the State affordability agenda, and announced New York State’s first-ever Inflation Refund, which would deliver about $3 billion in direct payments to around 8.6 million New York taxpayers statewide in 2025. This new refund would send a payment of $300 to single taxpayers who make up to $150,000 per year, and a payment of $500 for joint tax filers making up to $300,000 per year. Monday’s announcement is one of several proposals to help address the cost of living that will be unveiled as part of the Governor’s upcoming State of the State. The governor said:

“As New York’s first mom Governor, I know the stress parents feel intuitively — in my bones, I feel it. And that’s why I am so committed to helping New York families in any way possible — make your lives better in real, tangible ways. Putting money back in your pocket and in those of millions of hard working New Yorkers.”

The proposal would have to be ratified by the state legislature before the governor could sign it into law. There is no timetable for anticipated money distribution.

Source: 13 WHAM-TV