Governor Kathy Hochul has announced a new budget agreement for New York State for Fiscal Year 2026. A key part of this budget is the inflation rebate checks she promised.
These checks aim to help families facing rising costs. Hochul reported that the first New York inflation rebate checks have been sent out. The state will use $2 billion to provide cash assistance to more than 8 million New Yorkers, with families receiving up to $400.
The budget is expected to be $254 billion and will not raise state income or business taxes. Hochul also stated that the legislature will approve bills to implement these priorities soon.
To qualify for the inflation relief rebate, families earning less than $300,000 a year can receive $500, while individual taxpayers earning less than $150,000 can get $300. However, the amounts have adjusted to a maximum of $400 per family.