Several economic experts panned New York Gov. Kathy Hochul’s “inflation refunds” she plans to distribute to qualifying New Yorkers as part of her 2025 State of the State initiative.

Last week, Hochul proposed $3 billion in direct payments to about half of the Empire State’s 19 million residents: $300 for single taxpayers making up to $150,000 per year and $500 for joint filers making twice that.

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

However, some economists and economic experts, like Andy Puzder, said the move simply “redistributes [money] to people so the people will vote for them.”

REPUBLICANS RIP HOCHUL’S INFLATION REFUNDS AS ‘BRIBE TO MAKE’ NY’ERS ‘LIKE HER’

“If you really wanted to help everybody, and if you have an excess of sales taxes, then you reduce the sales tax,” added Puzder, the former CEO of the parent company of Hardee’s and Carl’s Jr., CKE Restaurants. “It’s not difficult math,” he added.

Puzder is a lecturer on economics and a senior public policy fellow at Pepperdine University who was considered for Labor secretary in the first Trump administration.

In his work at CKE Restaurants, Puzder increased the average franchise sales volume for the then-struggling Hardee’s from $715,000 in 2001 to more than $1 million a decade later.

The U.S. economy has been in trouble because of the same types of policies forwarded by Hochul and other tax-and-spend Democrats, he said – adding that President Biden’s American Rescue Plan was what lit the fuse on nationwide inflation in the first place.

“If you reduce taxes, fewer people will also be leaving the state,” he added, as New York shed another population-based House seat and electoral vote in the decennial census.

Puzder noted a few top Democrats have warned their own leaders against such “refunds” from the government, citing former President Bill Clinton’s Treasury chief Lawrence Summers cautioning the Biden administration that similar handouts in 2021 would drive up inflation.

HOCHUL SPARKS BIPARTISAN OUTRAGE OVER CONGESTION PRICING REBOOT AS DEMS WORRIED TRUMP WOULD BLOCK IT

Then-Rep. Dave Brat, R-VA, at the White House. (Reuters)

Former Rep. Dave Brat, R-Va., an economist and currently vice provost of Liberty University in Lynchburg, cited Nobel laureate Milton Friedman’s assertion that inflation is a monetary phenomenon.

Therefore, he said, in Hochul’s case, the better fix for inflation lies not in Albany, but in Manhattan.

“Inflation has to do with how much money the Federal Reserve prints. If she wants to give people money back from the government, that’s fine – but she’s in a prominent position in New York in that the Fed has one of its chief desks there and if you want to solve inflation, you go to the Federal Reserve.”

He added that $500 for a family is a “trivial, symbolic move against a massive, hidden tax,” noting that with an estimated 22% real-inflation rate over the past four years, $500 in 2020 purchasing power is only worth $390.

Brat added that Democrats’ penchant for such “refunds” put Republicans at a consistent political disadvantage because the GOP essentially has to “compete against Santa Claus” handing out presents versus the right warning the public to “eat their spinach.”

Economist EJ Antoni echoed some of the sentiment about the refunds being inflationary themselves, saying that what got the U.S. into inflation in the first place was too much government spending.

“So this idea that we’re going to add on another government expenditure, you’re essentially just creating a feedback loop,” Antoni said.

“Now, that’s not to say that New York State alone is going to cause inflation. Inflation comes from the federal government, because the federal government is the one that can’t create money, can print money out of nothing. But at the same time, you’re still talking about increasing the cost of living for New Yorkers, just in a different way,” he said.

Then-Lt. Gov. Kathy Hochul looks at then-Gov. Andrew M. Cuomo of New York. (AP)

“Any additional government spending is going to have to be paid for one way or another.”

Antoni added he could see such payments to the public “snowballing” into more and more payments down the line, which in turn would lead to higher taxes being needed to fund the handouts.

Antoni also said Hochul’s proposal differs from then-President Donald Trump’s COVID-era checks, because the latter came during a time people needed “money to survive” amid stay-at-home orders and various shutdowns of job sectors.

“If the issue is that we need to reduce people’s cost of living, the best way to do that would just be to reduce their taxes, not have another payment by the government,” he said.

Fox News Digital also reached out to the left-leaning Brookings Institution for a further diverse viewpoint on Hochul’s move.

Fox News Digital also reached out to Hochul’s office for comment but did not receive a response by press time. 

President-elect Trump says he doesn’t think Florida Gov. Ron DeSantis will name his daughter-in-law Lara Trump to succeed Sen. Marco Rubio in the Senate.

“No, I don’t. I probably don’t. But I don’t know,” Trump said Monday as he took questions from reporters at his Mar-a-Lago club in Palm Beach, Florida. “Ron’s doing a good job. That’s his choice – nothing to do with me.”

Trump last month announced that he would nominate Rubio, the three-term senator from Florida and a senior Republican member of the Senate Foreign Relations and Intelligence committees, to serve as secretary of state in his incoming administration.

TRUMP PRESSES DESANTIS TO NAME DAUGHTER-IN-LAW TO SUCCEED RUBIO IN SENATE

Since then, the president-elect and some top Trump allies have recommended that Lara Trump, who from March until a week ago served as Republican National Committee co-chair, fill the next two years of Rubio’s term in the Senate.

DeSantis has said he’ll make a decision on the Rubio Senate replacement by early next month.

DESANTIS SETS TIMETABLE TO NAME RUBIO SENATE SUCCESSOR

Trump on Monday praised his daughter-in-law, saying, “Lara’s unbelievable. She was incredible. The job she did at the RNC…. she is so highly respected.”

And he added that Lara Trump is highly sought after.

Lara Trump speaks to the media following a rally in North Charleston, South Carolina, on Feb. 21, 2024. (Brandon Gillespie/Fox News)

“I also know that Lara got so many other things. I mean she’s got so many other things. People want her to be on television. They want to give her contracts,” Trump said. “She’s got so many other things that she’s talking about.”

The president-elect also praised Rubio, but added, “He leaves a vacancy in Florida and Ron’s going to have to make that decision. And he’ll make the right decision.”

Former President Trump shakes hands with Sen. Marco Rubio during a campaign rally on Nov. 4, 2024, in Raleigh, North Carolina. (Chip Somodevilla/Getty Images)

Sources have confirmed to Fox News that Trump told DeSantis that he would like to see his daughter-in-law succeed Rubio. But Republican sources in Florida suggest that DeSantis is more likely to name someone who’s held public office in the Sunshine State.

And Lara Trump, in interviews with Fox News and the AP, has said she would “seriously consider” serving Florida in the Senate.

DeSantis, a one-time Trump ally who clashed with the former president last year and early this year during a very contentious 2024 GOP presidential nomination race, mended relations a bit with the former president after the primary season, as he endorsed Trump and helped raise money for the Republican nominee’s general election campaign.

Gov. Ron DeSantis holds multiple storm preparation news conferences on Oct. 7, 2024, as Hurricane Milton bears down on Florida. (Office of Florida governor)

“Florida deserves a senator who will help President Trump deliver on his election mandate, be strong on immigration and border security, take on the entrenched bureaucracy and administrative state, reverse the nation’s fiscal decline, be animated by conservative principles, and has a proven record of results,” DeSantis said last month.

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And he noted at the time that “we have already received strong interest from several possible candidates, and we continue to gather names of additional candidates and conduct preliminary vetting. More extensive vetting and candidate interviews will be conducted over the next few weeks, with a selection likely made by the beginning of January.”

The formal confirmation process for Rubio by his fellow senators won’t kick off until after Trump is sworn into office on Jan. 20.

EXCLUSIVE – Former Sen. Kelly Loeffler of Georgia will make her first visit to Capitol Hill since President-elect Trump nominated her to steer the Small Business Administration (SBA) in his second term in the White House.

Fox News has learned that Loeffler will meet starting Tuesday with roughly a dozen Republican senators. Among those she’ll huddle with are Sen. John Barasso of Wyoming, who ranks third in GOP Senate leadership and is the incoming Majority Whip, and Sen. Joni Ernst of Iowa, the incoming chair of the Senate Small Business Committee.

Loeffler, who hails from a family of small business owners and entrepreneurs, was raised working on the family farm in Illinois. After becoming the first in her family to graduate college, she spent nearly three decades working her way up in the private sector.  

Along with her husband Jeff, Loeffler built a Fortune 500 financial services and technology company from 100 employees to 15,000. 

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Loeffler later launched another company, named Bakkt, as its founding CEO and first employee. She was also a part owner of the WNBA’s Atlanta Dream.

HEAD HERE FOR THE FULL LIST OF WHOM TRUMP’S PICKED TO TOP ADMINISTRATION POSITIONS

“As an entrepreneur and business leader who founded startups and helped build a Fortune 500 company, Senator Loeffler looks forward to meeting with her former colleagues this week to discuss empowering America’s job creators,” Loeffler spokesperson Caitlin O’Dea told Fox News in a statement. “She is honored to be President Trump’s choice to lead the SBA, and, if confirmed, looks forward to advancing his agenda to make the small business economy great again.”

U.S. President Donald Trump and Sen. Kelly Loeffler (R-Ga.) attend a campaign rally at Dalton Regional Airport on January 4, 2021, in Dalton, Georgia. (Alex Wong/Getty Images)

Loeffler and her husband have long been major donors to Republican causes and and candidates, including Trump. Loeffler serves as co-chair of the president-elect’s inaugural committee.

Trump called Loeffler, a longtime ally, “tremendous fighter” as he announced her nomination as SBA administrator.

And Ernst, in a statement, said that “as a successful business owner, Kelly knows what it takes to innovate and create jobs that support American families, and I am confident that she will fight to get Washington bureaucrats off the backs of our nation’s small businesses.”

Then-Republican Senator Kelly Loeffler speaks during a campaign event at Valdosta Regional Airport in Valdosta, Georgia, December 5, 2020. (REUTERS/Dustin Chambers)

While successful in the business world, Loeffler was not well known until becoming a politician.

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After GOP Sen. Johnny Isakson resigned from the Senate at the end of 2019 due to his deteriorating health, Republican Gov. Brian Kemp of Georgia appointed Loeffler to fill Isakson’s unexpired term until the next regular election.

Loeffler narrowly lost to Democrat Raphael Warnock in a runoff election in January 2021, after no candidate topped 50% of the vote in a crowded field of contenders in the November 2020 Senate election.