Governor Hochul Announces $475 Million in Tax Relief for 1.8 Million Low-Income New Yorkers and Families

Governor Kathy Hochul and legislative leaders today announced $475 million in tax relief for eligible low-income New Yorkers and families as part of the state's ongoing effort to combat inflation and improve affordability. The New York Department of Taxation and Finance will soon begin sending direct financial assistance to 1.75 million New Yorkers who received the Empire State Child Credit and/or the Earned Income Credit on their 2021 state tax returns. New Yorkers can 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," Governor 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."

Governor Hochul and members of the state legislature approved the Additional NYS Child and Earned Income Tax Payment as part of the FY 2023 Enacted Budget. The program will provide an average payment of $270 per eligible recipient. Eligible New Yorkers do not need to take any action to receive their checks; checks will be mailed automatically.

The program builds on Governor Hochul's commitment to putting more money back in the pockets of everyday New Yorkers. Earlier this year, the Governor accelerated the distribution of $2.2 billion in tax relief to more than 2 million New Yorkers through the new homeowner tax rebate credit. Governor Hochul also announced a statewide gas and diesel tax holiday to provide New Yorkers relief at the pump as fuel prices hit record highs.

New Yorkers who have recently moved should update their address with the Department of Taxation and Finance to prevent delays in receiving their Additional NYS Child and Earned Income Tax Payment checks. To do so, they can create an account on the Department's website and follow on-screen instructions to complete required fields and save their updated address.

Majority Leader Andrea Stewart-Cousins said, "We know New Yorkers' pockets are hurting because of the nationwide affordability crisis and that is why the Senate Majority enhanced the Earned Income Tax credit and provided a Supplemental Empire State Child Credit to help middle class and low-income families. As the cost of living continues to rise, we are proud to deliver $595 million in tax benefits to hardworking New Yorkers. The EITC is a powerful tool with a long record of success in reducing childhood poverty and uplifting working families. I thank Governor Hochul for her help in delivering on this critical issue."

Assembly Speaker Carl Heastie said, "This will put money back into the pockets of hard working families who have been struggling with the already high cost of child care, along with rising costs at the grocery and at the gas pump. In this year's budget we fought to include across the board relief for New Yorkers, including a gas tax moratorium and a homeowner tax rebate credit. Our families have felt the effects of a global pandemic and now inflation, and we will continue working to provide the relief they need."

Ariva Executive Director Irene Baldwin said, "We applaud Governor Hochul and the state legislature for expanding the state Child Tax Credit and EITC. These payments will provide a welcome infusion of cash with the start of the school year and with the coming holiday season. The Governor and lawmakers are putting working people first!"

The Fedcap Group Senior Vice President of Workforce Development Grant Collins said, "These additional relief payments will go a long way to improve the lives of those living under poverty and the working poor. We thank the Governor and the State Legislature for providing this critical assistance. We're looking forward to alerting taxpayers that financial help is on the way."