More than a dozen states in the United States are in the process of establishing programmes that will distribute stimulus checks to their residents.
These checks will serve as a relief for residents amid the high cost of goods and inflation in the country.
The United States Department of Labor revealed earlier this month that the consumer price index (CPI) increased 9.1 per cent in June compared to the same month in 2021 when it was measured.
In the same period, the Consumer Price Index (CPI) for food increased by 10.4 per cent, while the CPI for fuel increased by 70.4 per cent.
Even though the cost of products continues to rise, the administration of Vice President Joe Biden has not yet revealed any intentions to issue another round of stimulus payments.
Because of this, state governments have been compelled to establish relief programmes that provide residents with financial assistance.
The following 18 states have each declared their own individual disaster assistance payment programme:
California
Beginning in October of this year, more than half of the people living in the state are going to be eligible to receive payments that might total up to $1,050 and will be delivered in the form of direct transfers or debit cards.
Single taxpayers with annual incomes of less than $75,000 would get a one-time payment of $350 from the programme; those with dependents would receive an additional one-time payment of $350.
To get a total of $1,050, married couples who file their taxes jointly and make less than $150,000 per year are eligible to receive $700, plus an extra $350 for each dependent member of the household.
The people of Taiwan are brushing off threats made by China in advance of a visit by Nancy Pelosi, claiming that such things “happen every day.”
Colorado
Late in June, Governor Jared Polis made an announcement regarding a new programme that would begin in August and provide a cashback rebate of $750 for single taxpayers and $1,500 for joint filers.
Taxpayers who submitted their returns for the year 2021 by the due date of June 30 will receive their reimbursements by the due date of September 2022.
People who file their tax returns for 2021 by the October 17 deadline will have their cash back checks mailed to them by the end of January 2023 at the very latest.
Delaware
In May, one-time payments of $300 for individuals and $600 for joint filers were distributed to Delaware residents who had previously filed their state tax returns for the year 2020.
An announcement made by the government states that residents who have filed their tax returns for the year 2021 will be eligible to receive additional payments throughout the summer.
Florida
Foster parents, relative and non-relative caregivers, and households receiving money from the Florida Temporary Assistance for Needy Families programme or the Guardianship Assistance programme are all eligible to receive one-time stimulus checks from the state of Florida in the amount of up to $450 per child.
These checks are expected to be issued as part of the state’s plan to distribute checks to eligible lower-income families. About 59,000 families in Florida will get a cheque from the organisation.
Georgia
Residents of Georgia who filed their tax returns for the years 2020 and 2021 would be eligible for refunds as follows: $250 for taxpayers filing as individuals, $375 for taxpayers filing as heads of household, and $500 for taxpayers filing jointly.
Hawaii
At the beginning of this year, the legislature of Hawaii passed a bill that would offer $300 tax rebate cheques to individual taxpayers with annual incomes of less than $100,000 and couple filers with annual incomes of less than $200,000.
Those who file their taxes and have an annual income of more than $100,000 will additionally receive a one-time check for $100.
By the end of October, it is anticipated that the majority of funds would have been distributed.
It is anticipated that residents of Idaho will receive either $75 for each taxpayer and dependent or 12 per cent of their expected state income tax liability for the year 2020.
Residents will receive whichever amount is greater. In March, the state started mailing out the checks for the stimulus package.
Illinois
A $50 tax reimbursement will be provided to individual taxpayers who filed their taxes in 2021 and made less than $200,000.
Those who filed their taxes jointly and earned less than $400,000 would each receive a check for $100 in the form of a rebate.
In addition, taxpayers will receive an additional $100 for each dependant that they claim on their taxes for the year 2021, up to a maximum of three dependents.
Indiana
$125 Checks have been sent out by the state of Indiana to all taxpayers who submitted their taxes for the year 2021 by April 18, and $250 checks have been sent to married couples.
Maine
If they submitted a state tax return for the year 2021, more than 850,000 residents of Maine are eligible to receive a direct $850 relief check.
If the taxpayer is reporting as a single person, their adjusted gross income must be less than $100,000;
if they are filing as a head of household, it must be less than $150,000; and if they are filing as a married couple filing jointly, it must be less than $200,000.
Massachusetts
Another batch of direct $500 payments was distributed by the state to more than 300,000 vital workers with modest incomes.
Residents of the state who had an annual income of at least $13,500 and a household income that was at or below 300 per cent of the federal poverty threshold would also be eligible to receive the benefits.
The state of New Jersey
As part of its initiative to provide tax rebates to individuals and families with middle-class incomes, the state of New Jersey has begun handing out return payments of up to $500.
According to a press statement, the processing of the checks will take around six weeks, and they will then be distributed to approximately one million households.
NM (New Mexico)
In the early part of this year, the state legislature passed a measure that would authorise the distribution of $250 checks to single taxpayers whose annual income was less than $75,000 and $500 checks to married couples, heads of household, and surviving spouses whose annual income was less than $150,000.
The Big Apple
At least 2.5 million homeowners in the state of New York are expected to receive tax rebate credit checks for the year 2022. The majority of payouts were dispersed in June.
Oregon
In the state of Oregon, it is anticipated that more than 230,000 low-income residents will each get a one-time stimulus check for $600. Late in June, the state started giving out the payments.
Pennsylvania
Checks for the payment of property taxes will be mailed out by the state of Pennsylvania to homeowners and renters.
Checks ranging between $250 and $650 will be issued to homeowners, while checks ranging between $500 and $650 will be issued to renters.
Before the year 2022 comes to a close, those who are qualified to receive the payments should visit the myPath website or submit a paper application to be considered.
South Carolina (Scotland)
There is a possibility that some taxpayers in the state of South Carolina will get one-time stimulus checks in the amount of up to $800.
The state has not yet provided specifics regarding the scheme, but it is anticipated that they will publish additional information regarding the rebate checks later this year.
Read more:-
- This week in crypto regulation, the SEC goes after Coinbase while the CFTC gets ready to take the lead.
- Recent Developments in the American Financial System, All Updates Are Here
- How Will It Affect Inflation if the More States Join the Race to Offer Residents Stimulus Checks?
Virginia
In June, the legislature of Virginia gave its approval to a one-time tax rebate that would distribute $250 to taxpayers who filed as single and $500 to people who filed as married filing jointly. The beneficiary needs to have filed their taxes by the November 1 deadline to be eligible for the payouts.
