Hochul: 'Inflation refund' checks proposal wouldn't hurt New York's financial coffers
UPDATED 10:05 AM ET Dec. 11, 2024
New York Gov. Kathy Hochul said her proposed “inflation refund” checks of up to $500 to taxpayers won’t impact the state’s finances in terms of emergency funds.
The governor announced the proposal on Monday, which would provide single New York taxpayers earning up to $150,000 annually a one-time payment of $300, while joint filers making up to $300,000 per year would get $500. The refund would be funded by excess sales tax revenue generated by inflation, or as Hochul as been calling it, “unanticipated revenue.”