New York Governor Kathy Hochul, a Democrat, is proposing a bold plan to combat inflation by issuing stimulus checks to taxpayers. While the initiative might sound appealing at first glance, many are questioning whether a one-time payment of $300 to $500 will truly alleviate the financial strain faced by millions of New Yorkers struggling under what critics call the “Biden economy.”
The governor’s office announced the proposal as part of the 2025 State of the State agenda. According to the press release, the “Inflation Refund” would redistribute $3 billion in surplus sales tax revenue back to taxpayers. Specifically, single filers earning up to $150,000 annually would receive $300, while joint filers earning up to $300,000 would get $500.
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Hochul stated:
“Because of inflation, New York has generated unprecedented revenues through the sales tax — now, we’re returning that cash back to middle-class families. My agenda for the coming year will be laser-focused on putting money back in your pockets, and that starts with proposing Inflation Refund checks of up to $500 to help millions of hard-working New Yorkers. It’s simple: the cost of living is still too damn high, and New Yorkers deserve a break.”
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