Governor Kathy Hochul, as well as numerous legislative leaders, have announced that a stimulus payment (of approximately $270) will be sent to 1.75 million New Yorkers to help with inflation as well as improve affordability.
The New York Department of Taxation and Finance is going to start sending financial assistance to New Yorkers who have previously received the Empire State Child Credit and/or the Earned Income Credit on their 2021 state tax returns.
Supposedly, New Yorkers should expect to receive their checks by the end of October.
“With this relief package, we’re making good on our commitment to helping hardworking New Yorkers through the nationwide affordability crisis,” 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. 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 and multiple members of the state Legislature approved the Additional New York State Child and Earned Income Tax Payment as part of the fiscal year 2023 enacted budget.
This program will be able to provide an average payment of $270 per recipient that is eligible. Checks will be mailed automatically.
In early 2022, the governor accelerated the distribution of $2.2 billion in tax relief to over two million New Yorkers through the homeowner tax rebate credit.
Additionally, Hochul also said that a statewide gas and diesel tax holiday will provide New Yorkers relief as the pump as fuel prices have hit record highs.