When the pandemic struck in 2020, the federal government made billions of dollars available to assist Americans in surviving the ensuing economic downturn and unemployment, eventually transferring some of these monies to the states for inflation relief payments to their inhabitants.
While the federal funds supplied under the immediate COVID-19 stimulus packages and the subsequent American Rescue Plan have been exhausted, six states still have funds to disburse to eligible individuals.
Payments Made By States
In addition, new initiatives that might put money back into the pockets of millions of Americans went into effect on January 1 under the Inflation Reduction Act, which Congress passed and President Biden signed into law last year.
California, Colorado, Idaho, New Jersey, Pennsylvania, and South Carolina are the six states with remaining 2022 allocations for 2023 distribution.
Each state has distinct eligibility requirements and payout amounts. In California, for instance, payments range between $200 to $1,050 dependent on income, tax filing status, and household size.
In Pennsylvania, rebates are restricted to citizens aged 65 and older, widows and widowers aged 50 and older, and individuals with disabilities who are at least 18 years old and meet specified income requirements.
Some program recipients will receive their funds in January, while payments from other states will be distributed throughout the spring.
Read more: 8-Year-old girl dies from rabies 10 days after her brother in vicious wild animal attacks
California Inflation Relief Payments
In the meantime, California is granting itself a bit more time to distribute the remaining Middle-Class Tax Refunds. The inflation relief payments that were announced last summer and distributed beginning in October will continue through February.
Initially, the state body responsible for disbursing the monies, the Franchise Tax Board (FTB), provided a payment schedule indicating that the final phase would conclude on Saturday, January 14.
The FTB states that the vast majority of recipients will still receive their payment by then, although those whose addresses have changed after they submitted their taxes for 2020 may receive their debit cards between January 30 and February 14.
In addition, anybody anticipating a direct payment should check their bank accounts this week. The FTB is issuing a second significant batch of Middle-Class Tax Refund (MCTR) payments to individuals whose information needs further examination.
Read more: World Bank warns a second global recession as growth forecasts cut in 2023