New Yorkers will receive their first-ever inflation refund checks later this year
Earlier this week, Governor Kathy Hochul led a press conference about the 2026 New York State Budget, announcing her intention to send inflation refund checks of up to $400 per family to over eight million households.
'The cost of living is still too damn high, so I promised to put more money in your pockets—and we got it done,' Hochul said during the event, explaining that the refunds will be funded by 'higher-than-expected sales tax revenue.' Whatever the reason, we're clearly here for it.
Specific details regarding timing and distribution have yet to be announced, but according to an official press release, New York State will send direct payments to residents 'later this year.'
The plan aims to give joint tax filers earning up to $150,000 a $400 check, while those earning between $150,000 and $300,000 will receive $300. Single tax filers making up to $75,000 will get $200, and those earning between $75,000 and $150,000 should expect $150.
In addition to the inflation refunds, the 2026 New York State Budget proposes tripling the size of New York's child tax credit—essentially doubling the average payout from $472 to $943. Families will now be eligible for up to $1,000 per child under age four, and up to $500 per child through age 16. Hochul is also pushing to cut taxes for the middle class and ensure that all 2.7 million students across New York receive free breakfast and lunch at school, eliminating financial eligibility requirements entirely.
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