January 5th 2025.
It's that time of the year again in New York, and Governor Kathy Hochul is gearing up for her upcoming 2025 State of the State Address on Jan. 14. With the cost-of-living crisis looming over the city and the state, the governor is determined to tackle this issue head on by promoting several initiatives.
In a recent press conference on Friday, the governor emphasized the importance of fighting for hard-working families, a cause that she has been championing since her first term as governor. She understands the struggles that families face in making ends meet and is determined to make New York a more affordable place for everyone.
One of her key proposals is the Inflation Refund checks, a first-ever initiative in the state, which aims to provide direct payments of approximately $3 billion to around 8.6 million New York taxpayers this year. The income limits for eligibility are high enough that even hard-working Staten Islanders are likely to benefit from this plan. Single taxpayers earning up to $150,000 per year would receive $300, while joint tax filers with a yearly income of up to $300,000 would receive $500 under the governor's affordability agenda.
Governor Hochul understands the struggles of middle-class families who have been working hard their whole lives, only to find themselves struggling to make ends meet. She acknowledges that the rising inflation rates are not within their control and are causing financial strain. As a result, she has taken steps to increase the minimum wage for workers statewide this month, with further increases planned in the future to keep up with inflation.
The governor also highlighted other recent achievements, such as expectant mothers being the first in the nation to receive paid prenatal leave, and a ban on insulin co-payments for state-regulated insurance plans. She expressed her commitment to continue working towards making New York a better place for all its residents.
The Inflation Refund plan will be funded by the $3 billion surplus in sales-tax revenue due to the rising costs of essential items, such as groceries, during the COVID-19 pandemic. The governor is determined to put this money back into the pockets of hard-working families, as she believes it never should have been taken away in the first place.
However, the governor will have to work with the state Legislature to gain support for her proposed budget. This includes negotiating for the recent minimum wage increase, which is now $16.50 an hour in New York City, Long Island, and Westchester County, and $15.50 an hour in other parts of the state.
Governor Hochul also highlighted the state's recent milestone of being the first in the nation to require paid time off for pregnant women to attend prenatal care and other pregnancy-related medical appointments. This will provide relief to thousands of workers who were previously forced to choose between losing money from their paychecks or getting vital medical care for their babies.
In addition, the governor announced the elimination of insulin co-payments, which typically cost diabetics about $1,200. She believes that no one should have to break the bank to access essential medical care, and this move will provide much-needed relief to those who rely on insulin to survive.
The State of the State Address, scheduled for Jan. 14, will take place at 1 p.m. in Hart Theater at The Egg, Empire State Plaza in Albany. Governor Hochul is determined to make New York a more affordable and livable place for all its residents, and these initiatives are just the beginning of her plans for the state.
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