This was a hoax from 2012. It’s just not true at all. We are several dozen light years above it and moving away from it, and probably won't cross it for another 30 million years or so according to this article in EarthSky: Did Earth cross the galactic equator in 2012?

Here is a discussion on astronomy stack exchange, one of the participants links to a 2016 paper which makes it 56 light years above the galactic plane (17.1 parsecs) and the sun moving away from the plane currently at about 7.25 km/sec (both of those values approximate with quite large margins of error)

We are currently moving away from the galactic plane and the sun will cross it perhaps 30 million years inot the future. So if there is any increased risk of asteroid impacts during galactic plane crossings, it’s a long time into the future.

EFFECTS OF CROSSING THE GALACTIC PLANE

This is a genuine astronomical question . Are there more asteroid impacts when we pass through the galactic plane? Well there was some data seemed to support that idea back in 2008, but it no longer seems likely.

This is part of the general idea that we go through periodic extinctions - with lots of reasons suggested for why that might be. Passing through the galactic plane is just one of many hypotheses.

If you look at the data - there does seem to be a rough periodicity of extinctions. Some people think it is real, others, maybe more of a coincidence. It’s quite striking but not compellingly so.

This is the most recent paper I found on it: Periodic impact cratering and extinction events over the last 260 million years - and it cites earlier papers.

If it is real, and that last paper is correct, then the most recent one was about 16 million years ago and it happens roughly every 26 million years. So next maximum impact rate would be perhaps 10 million years into the future.

Different authors will come up with different figures for when they think it will happen next, but they all have periods much larger than 16 million years which puts the next extinction event millions of years into the future if the theory is correct.

GALACTIC ALIGNMENT

Also just to mention this because it got many people scared in 2012. This is different from galactic plane crossing

It’s true that the sun does align with the galactic core in autumn. But it does that every year, It just means that Earth is the opposite side of the sun from the galactic core once a year and has no astronomical significance at all.

In the same way if you point your finger at the Moon you will create an alignment between your head, your finger, and the Moon.

It is of absolutely no consequence at all that once a year Earth is roughly at the opposite side of the sun from the galactic core, as explained in the video.

I did this originally to debunk the idea we’d all die as a result of passing through the galactic plane. But it works equally well to debunk anything else you might think would be a consequence. Debunked: We are doomed because Earth is passing through the galactic plane