Are rising gas prices making life difficult for you right now? There’s some assistance on the way. Federal and state legislation has been introduced to provide rebates or stimulus checks directly to Americans.
These payments, however, are far more targeted and have much lower financial amounts than earlier pandemic relief programs. This isn’t due to a lack of resources on the part of governments. It’s more about supporting Americans in coping with inflation without increasing it.
The Gas Rebate Act of 2022 was proposed on March 17 by Reps. Mike Thompson (D-CA), John Larson (D-CT), and Lauren Underwood (D-IL). The Act, which is still in its early stages, would give qualifying taxpayers a $100 monthly energy rebate and an additional $100 per dependent.
Payment eligibility would be organized in the same way that prior stimulus payments were. The full payout would be given to married taxpayers filing jointly with earnings up to $150,000 and single filers with incomes up to $75,000, with higher income levels phased out.
Which states will be the recipients of these stimulus payments?
Five states have already approved legislation to give their inhabitants tax relief. The following is a breakdown of how those payments are progressing:
Idaho
In February of this year, Idaho Gov. Brad Little signed a bill granting $350 million in tax rebates to Idaho residents. There are two requirements for eligibility:
- Idaho residency for the 2020 and 2021 tax years, as well as filing tax returns
- Residency in Idaho full-time and filing grocery-credit refund returns
The installments will start at the end of March and will total $75 or 12% of your Idaho state taxes for 2020, whichever is higher. Taxpayers who got refunds via direct deposit will initially receive printed rebate checks from the tax commission.
Georgia
Due to a historic state budget surplus, Georgia citizens who have submitted both their 2021 and 2022 tax returns will be eligible for refund payments based on their tax filing status:
- Individual filers will be charged $250.
- $375 per family member
- Filing fees for married couples filing jointly are $500.
Residents who filed their taxes before Kemp signed the bill will get their refunds in the form of checks that will be mailed to them later. If you file before April 18th, your rebate payments may be applied to your tax refund. Of course, how quickly the state tax department can incorporate the additional payments is a factor.
Indiana
At the end of 2021, Indiana, like Georgia, found itself with a substantial budget surplus. Indiana taxpayers will receive a $125 one-time tax refund after submitting their 2021 taxes, according to Gov. Eric Holcomb’s announcement in December 2021.
While the facts of residency and eligibility remain unknown, the state’s revenue administration advises taxpayers should not expect a bonus refund when they file their taxes. Rather, the state will publish further information about when these bonus payments will be made in 2022.
New Jersey
In the fall of 2021, Gov. Phil Murphy and the New Jersey state legislature adopted budget provisions that would offer roughly 1 million families one-time rebate cheques of up to $500.
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Murphy now proposes investing $53 million to deliver $500 rebates to taxpayers who file their taxes using a taxpayer identification number rather than their Social Security number. Because they are now ineligible for a Social Security number, nonresident and resident immigrants, as well as their spouses and dependents, would be among the newly eligible people.
New Mexico
In early March, Gov. Michelle Lujan Grisham signed relief legislation into law, offering a one-time tax reimbursement of $250 for single filers and $500 for married couples filing jointly to New Mexico taxpayers. To be eligible, taxpayers must have an annual income of less than $75,000 for single filers and less than $150,000 for married filers filing jointly.
California
California Governor Gavin Newsom stated on Wednesday that he plans to send state citizens direct payments of $400 per vehicle, with a two-vehicle limit. According to the statement, the checks may arrive as early as July, pending approval from California lawmakers. According to AAA, California drivers are paying some of the highest gas prices in the country, with the state average of $5.87 per gallon on Wednesday.
Hawaii
In January, Hawaii Governor David Ige proposed sending $100 to each taxpayer and their dependents, totaling $400 for a family of four.
Maine
Maine Governor Mills intends to send $850 to the majority of residents as part of the state budget. According to a statement released by her office, due to inflation, the average Maine resident would pay $560 more this year than last.
Minnesota
Governor Tim Walz of Minnesota revealed a plan to spend the state’s budget surplus, which included a proposal for $1,000 income tax rebate cheques for married couples.
New York
Kathy Hochul, the governor of New York, has proposed a $1 billion property-tax refund program to bring tax relief to New York residents. According to Bloomberg News, the average benefit of the property tax rebate for households outside of New York City would be roughly $970.
Virginia
Virginia lawmakers are set to pass tax relief in the form of a rebate check, according to local news site Wavy.com, though the amount is not yet known. Different proposals were reported to send $250 or $300 to each individual and $500 or $600 to married couples.
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