AMERICANS in a key state will be getting checks with no strings attached in the mail soon.
The direct payment opportunity is intended to assist families amid fluctuating inflation rates.
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It’s all part of Governor Kathy Hochul’s New York State Budget plan.
“I promised New Yorkers to fight like hell to put money back in their pockets and make our streets and subways safer,” Hochul said in a news release on Monday.
“That’s exactly what this budget will do.”
“Working with our partners in the Legislature we’ve reached an agreement to pass a balanced, fiscally responsible budget,” she added.
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“Good things take time, and this budget is going to make a real difference for New York families.”
Part of that difference includes Inflation Refund checks, a first-ever for the state.
Up to $400 from a $2 billion pot will be distributed to about eight million New Yorkers.
Details on the exact eligibility criteria for the cash or the precise timeline of when funds will be released were not provided.
The release did note that while a “conceptual agreement” for the Fiscal Year 2026 Budget is in place, the “legislative houses are expected to pass bills that will enact these priorities in the coming days.”
BUDGET BONUES
An estimated $254 billion encompasses the total budget funds.
Some other noteworthy aspects of the Fiscal Year 2026 Budget include a $1 billion tax cut for middle-to-low-income New York residents.
According to Hochul, it’ll help create the lowest tax rates in 70 years.
There are also other direct payment opportunities, including a Child Tax Credit worth up to $1,000 for families who have children under the age of four, and $500 to those with kids between four and 16.
Good things take time, and this budget is going to make a real difference for New York families.
Kathy Hochul
At least $340 million will also be set aside to ensure free breakfast and lunches for all K-12 students in the state, offering savings of around $1,600 per child.
The New York subway system is also getting $77 million worth of upgrades.
Some cash is going toward placing police officers on “every overnight subway train,” and new platform barriers and LED lighting.
About $25 million will also be invested in welcome centers to connect unhoused residents with services and care.
A complete list of the Fiscal Year 2026 Budget initiatives can be found on the New York State website.
MONEY MOVES
Similar to New York, another US state is sending out rebate checks worth up to $500.
In Georgia, residents can get the money as long as they file their 2023 and 2024 tax returns by May 1, 2025.
While the standard tax return deadline passed already on April 15, Georgia residents were given an automatic extension due to Hurricane Helene.
They must also be joint file returns from married couples to get $500, single filers will get $250, and head of household filers can get $375.
Checks will be sent out in the mail or via direct deposit.
Officials estimate that the majority of the funds will be distributed by July.
Other Americans can get up to $500 monthly payments for an entire year under a new program with “unrestricted” access.
Ohio families could also get the same monthly amount, with the first round of checks going out this month.