What to know about inflation checks in New York
(NEW YORK) — In an effort to help families fight inflation, New York Gov. Kathy Hochul announced last month that New Yorkers would receive an average payment of $270 through the state tax credit program.
As part of the 2022-2023 New York state budget, eligible New York taxpayers could receive a check for two different payments under the Empire State Child Credit and the Earned Income Credit.
According to the governor and the state legislature, the payments will offer up to $475 million in tax relief for those eligible.
“With this relief package, we’re making good on our commitment to helping hardworking New Yorkers through the nationwide affordability crisis,” Hochul said at the time of the announcement.
While the payments will come as a relief for many, most of the state’s nearly 20 million residents aren’t eligible.
Around 1.75 million low-income New Yorkers and families are eligible for payments, Hochul said.
“This program will put money back in the pockets of nearly two million New York families struggling to make ends meet in the face of the pandemic, inflation, and other rising costs,” the governor said.
New Yorkers who filed their 2021 state tax returns and received the Empire State Child Credit and/or the Earned Income Tax Credit are eligible.
“My administration remains laser-focused on improving affordability statewide, and I thank the legislature for its partnership in ensuring that New York families get this much-needed financial assistance,” Hochul said in her announcement.
Eligible taxpayers don’t need to apply since the state automatically sends the payments.
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