Stimulus Check 2023: Financial Freedom That Comes With Stimulus Check

stimulus check

People work to earn financial freedom. That was taken away from them during the pandemic. Unemployment hit the country at 14% which is thrice than the normal rate. Stimulus Check has become the only source of income for unemployed individuals.

They had no work at all. They were struggling to meet ends. The federal government was generous enough to send checks in three different forms.

It began in 2020 April and will continue till March 2021.

A lot of financial assistance they needed at the most crucial time. However, when inflation hit consumer prices spiked and people started drowning in debt.

Various States Took Up The Path Of Stimulus Check Which The Federal Government Started

They thought highly of their residents and provided assistance to them. The cost of living is higher than normal. However, the stimulus check is varied from state to state. Some started sending out last year. Some are still in the process of issuing them. There are various amounts starting from $200 to $1050.

California started it first. And now Maine, Alaska, Massachusetts, New York, New Jersey, Colorado, South Carolina, Pennsylvania, and many other states are sending out.

They have shaped their stimulus check in their own way. Some have energy-related funds. Middle-class tax refund, during inflation in California. Again New York there are property tax rebates. They are under the ANCHOR program. They are sending $450 to renters. And $1500 for owners. Individual taxpayers are getting less than joint filers.

There is even a child tax credit which is similar to a stimulus check but more expensive. New Mexico is not behind. Inflation started moderating in October. And many states have asked their residents to file taxes by October of the last two years.

They started sending stimulus checks in November. And some states are still sending out.

Minneapolis started its stimulus check on 20th May, a guaranteed income program. This started last year in June. This likely will continue till next June.