Earlier today, Governor Kathy Hochul visited a supermarket in Albany County to speak with shoppers about her 2025 State of the State Affordability Agenda.
“The cost of living is too high and my Budget takes meaningful steps to put money back in the pockets of New York families,” Governor Hochul said. “I’m proposing a common-sense agenda that delivers real relief and lifts up middle-class families.”
To make New York more affordable, Governor Hochul’s Executive Budget proposes:
- Nearly $1 billion in tax relief to more than 8.3 million New Yorkers through a middle-class tax cut
- New York’s first-ever Inflation Refund, delivering checks of up to $500 for families
- Increasing the Child Tax Credit to offer up to $1,000 for children ages 0-3 and $500 for children ages 4-16
This year’s proposals build on Governor Hochul’s strong focus on affordability. She worked to raise the minimum wage and index it to inflation, so New Yorkers get a raise when costs go up. The Governor also fought to implement the country’s first-ever statewide paid prenatal leave policy, giving pregnant women the opportunity to access vital medical care, and also banned co-pays for insulin on all State-regulated health care plans.
