Could New York Residents Really See A Inflation Refund In 2025?

Are New York residents really going to see money in a Inflation Refund check for 2025? Is this real or fake internet news?

Governor Hochul proposed New York State’s first-ever Inflation Refund:

The proposed refund would put about $3 billion in collected sales tax revenue driven by inflation back into taxpayers' hands.

“Because of inflation, New York has generated unprecedented revenues through the sales tax — now, we’re returning that cash back to middle-class families,” Governor Hochul said.

The proposed Inflation Refund is a one-time direct payment. It would send a payment of $300 to single taxpayers who make up to $150,000 a year, and a payment of $500 to joint tax filers making up to $300,000 a year. If the Inflation Refund is passed by the State Legislature, payments will be made to taxpayers starting in the Fall time of 2025. So it wouldn't be money now, or the near future, but looking ahead to fall time of 2025, it would help put a dent in holiday spending.

New Yorkers who recently filed tax returns will be eligible for the payment.

Proposal Would Deliver $3 Billion by Taking Excess Sales Tax Revenue Driven by Inflation and Giving That Money Back to Everyday New Yorkers. $500 Payment For Families Making Less Than $300,000; $300 Payment for Individual New York Taxpayers Making Less Than $150,000. Governor Has Delivered More Than $5.5 Billion in Supplemental Payments, Tax Relief and Rebates Since Taking Office"

You can read the full report online here.