New York to Send First-Ever Inflation Refund Checks to Millions of Residents

New York is set to issue its first-ever inflation refund checks following a late-night state budget agreement, Governor Kathy Hochul announced.

Initially revealed in December, the rebate will provide up to $400 per family to over 8 million residents, funded by unexpectedly high sales tax revenue.

While earlier projections estimated the checks would range from $300 to $500 based on income, the final amounts and distribution timeline remain uncertain as the $254 billion state budget is still under legislative review.

Hochul also noted potential adjustments depending on federal actions tied to the Trump administration.

Inflation refund checks to be given out in NY: Amount, timeline