$500 Checks To Be Sent To New York Families

A new year will bring new money to New York State residents. As New Yorkers have seen the prices of groceries, gas, and pretty much everything increase, there is relief on the way.

READ MORE: New Things NY Health Insurance Companies Have To Cover

Inflation is certainly a topic that worries many families in the state. According to U.S. Inflation Calculator, the annual rate in America was 2.7%. The next inflation update is scheduled to be released soon, on January 15 at 8:30 am. While many Americans think America is the only country suffering from high inflation, that's not true, by a long shot. Angola, for instance, has an inflation rate of 28.41 percent, in Bangladesh it is 11.38 percent, in Burundi it is 24.9 percent, in Egypt it is 25.5 percent, in Iran it is 34.5 percent, and in Turkey it is 44.38 percen, according to Trading Economics. These are just a few of the countries with super high inflation compared to the U.S., just to put it in perspective.

Governor Kathy Hochul plans to put money back in the pockets of New York families who struggle to buy the things they need due to inflation. Her first proposal for her 2025 State of the State is to create New York's first Inflation Refund. Approximately 8.6 million New Yorkers will receive $3 billion in refund monies. Single taxpayers who make up to $150,000 annually will receive checks for $300 and families making up to $300,000 per year will get $500. These payments will be sent directly to New Yorkers.

READ MORE: Where Do The Most Amish People Live In New York?

Here's How Many New Yorkers In Each Region Will Receive Checks:

New York City

4,989,000 New Yorkers

Hudson Valley

986,000 New Yorkers

Western New York

620,000 New Yorkers

Finger Lakes

542,000 New Yorkers

Capital Region

502,000 New Yorkers

Central New York

340,000 New Yorkers

Southern Tier

263,000 New Yorkers

Mohawk Valley

208,000 New Yorkers

North Country

163,000 New Yorkers

Get our free mobile app