After a considerable amount of talk and political maneuvering to have the plan included in the new Fiscal Year 2026 State Budget Gov. Kathy Hochul on May 14 announced the schedule on which the state will be sending out inflation refund checks. The checks will go to approximately 8.2 million New Yorkers. In the Mid-Hudson region, it’s estimated that 924,000 people will be receiving checks.
Hochul announced that the checks up to $400 will be sent out to households across New York state in October and the mailings will continuing through November. Hochul said there is no need for people to apply, sign up or do anything to receive a check; people entitled to receive them will do so automatically.
The state found that it had collected more in sales taxes in the last fiscal year due to inflation than had been forecast, so the idea was to return the surplus to taxpayers.
“This is your money and we’re putting it back in your pockets,” said Hochul, who is running for reelection. “I’ll never stop fighting to help your family address the rising cost of living and that’s why I also delivered on my promise to cut taxes for the middle class, expand the child tax credit and ensure free school meals for every student.”
People are eligible for an inflation refund check if, for tax year 2023, they:
- Filed Form IT-201, New York State Resident Income Tax Return;
- Reported income within the qualifying thresholds; and
- Were not claimed as a dependent on another taxpayer’s return.
Joint tax filers with incomes up to $150,000 will receive a $400 check. Joint tax filers with incomes over $150,000 but no greater than $300,000 will receive a $300 check. Single tax filers with incomes up to $75,000 will receive a $200 check.
Senate Majority Leader Andrea Stewart-Cousins positioned the inflation refund check program as being in sharp contrast to what’s happening in Washington.
“While Washington advocates tax cuts for the ultra-wealthy and mega-corporations at the expense of millions of working Americans, we in New York continue to champion the well-being of the middle class,” Stewart-Cousins said. “The Senate Democratic Majority has worked with Governor Hochul and the Assembly to deliver a budget that invests in people and addresses the challenges facing New Yorkers. With this enacted budget that includes inflation rebate checks, we have prioritized our state’s working families and individuals, putting money back into the pockets of millions of New Yorkers.”
