This month, millions of Americans will receive a substantial one-time payment designed to help combat inflation.
These “cost-of-living adjustment” checks are being issued to individuals and families affected by increasing prices, provided they meet certain income and residency qualifications.
More than eight million residents are expected to benefit from these payments, which will be automatically sent out beginning in late September.
The distribution will occur over several weeks, and recipients don’t need to take any steps to receive the payment—eligibility ensures automatic delivery of checks.
However, eligibility is restricted to New Yorkers, and the payment amount varies according to filing status and income level. Married couples filing jointly with a 2023 income up to $150,000 are eligible for the maximum payment of $400.
Households with incomes up to $300,000 will receive $300. Single filers earning $75,000 or less will get $200, while those making up to $150,000 will receive $150.
To be eligible, residents must have lived in New York for the full 2023 calendar year, filed a state income tax return for that year, and not been claimed as a dependent on someone else’s return.
The New York State Department of Taxation and Finance stated: “You may receive your check sooner or later than your neighbors, as mailings are not based on zip code or region.”
Governor Kathy Hochul, who announced the distribution in April, remarked: “The cost of living is still too damn high, so I promised to put more money in your pockets – and we got it done.”
“Putting nearly $5,000 back in the pockets of families means helping New Yorkers afford the rising costs of groceries, raising kids, and just enjoying life.
“When I said your family is my fight, I mean it – and I’ll never stop fighting for you.”
This initiative is part of the fiscal year 2026 budget. Despite the rebates, former Governor Andrew Cuomo, who is now running for mayor of New York City, has voiced concerns over the state’s financial decisions.
He noted that while $2 billion is going toward tax rebates, some essential city services are facing budget cuts.
Nevertheless, an extra $400 arriving in your bank account is certainly a welcome bonus!