With the state stimulus checks the only hope of succor for millions of Americans, it is admirable that many have already begun sending out additional stimulus checks to qualifying residents. The pace and alacrity are needed as people continue to struggle from the rising prices that have negated any increase in wages they may have enjoyed in the post-pandemic period.
Even though there has been a tapering of the spike in inflation following the hike in the interest rate by the Federal Reserve, the present cost of living in America is considerably higher than during the pre-pandemic period.
The Federal administration has expressed its unwillingness to sanction a fourth stimulus check. even President Biden’s bid to extend the expanded Child Tax Credit stimulus check through 2025 hit a stumbling block in Congress, with even a couple of Democratic Senators, Joe Manchin, and Kyrsten Sinema, opposing the move in a Senate split right down the middle.
States Were Helped In Their Endeavor To Send Stimulus Checks By ARPA Funds And Budget Surplus
Thus states were left to their own devices to bring succor to residents. But they have been fortunate in this regard as most states have sufficient resources thanks to two factors. One of them is the American Rescue Plan Act, of which the third stimulus check, or the economic impact payment, is a part. The ARPA was signed in March 2021 by President Biden immediately after he came to power.
This act had much more than the stimulus check component. It gave support to businesses, and organizations like educational institutions and hospitals, and gave generous financial support to states and local bodies to continue the fight against the pandemic and the economic downturn that came as a result of the pandemic.
This support to states was considerable and most states have refrained from spending the funds till now. But it has come in handy to support residents with inflation relief stimulus checks.
The booming economy of the last two quarters of 2021 was also a great help for states to shore up their reserves, with states like California building up reserves to the tune of $97 billion. That has greatly helped them decide on moving in to support their resident at such a crucial juncture.
States have adopted multiple ways to support their residents including direct stimulus checks, paper checks or account transfers, tax rebates, tax holidays, waiver of sales and income tax, gas and transit cards, and other forms of stimulus checks.
States Have Also Varied In The Amount Of Stimulus Aid And Also The People They Have Targeted
California and Florida are two of the latest states to announce inflation relief stimulus checks for their residents. While the Golden State, ruled by the Democrats under Governor Gavin Newsom, has dipped into its deep pockets to give a stimulus check of up to $1,050 to its residents.
Residents earning below $150,000 jointly and declaring a dependent will receive the full amount. Individually it comes to $350 per head. But only one dependent will be allowed under the scheme, even if there are more in the family. Individual filers declaring a dependent will thus get $700.
Even joint filers reporting an earning of $500,000 will receive a stimulus check. but the amount will be curtailed to $200 per filer plus another $200 for one dependent. So the maximum stimulus check under this earning bracket comes to $600.
Republican Florida is a surprise entry into this list. governor Ron DeSantis has been vehemently opposed to the stimulus check and has blamed President Biden and the third stimulus check for the inflation rate.
But the 2024 Presidential hopeful and staunch Trump supporter has fallen back on the ARPA funds to send a $450 stimulus check to around 59,000 residents of the state.
To be eligible for the inflation relief stimulus check, the Dept. of Children and Families of Florida has revealed that people must have met one of the following qualifications as of July 1.
They must either be a foster parent, a relative caregiver, or a non-relative caregiver. Families who receive Temporary Assistance for Needy Families cash assistance, also called welfare, will also receive the assistance as will the participants in the Guardianship Assistance Programs.
The payment comes out of the $35.5 million that Gov. DeSantis has set aside from the ARPA funds. These funds will revert to the federal administration if the payment is not made by the end of 2024.
The payments will arrive before the “back-to-school” scheme offered by Florida. This scheme enables a sales-tax holiday for school books and other necessities between July 25 and August 7. Gov. DeSantis has urged people to spend the stimulus check during this period to buy the things that kids would need and avail of the tax holiday.
The Colorado Cash Back Bill was passed on May 23 and gives residents of the state the chance to collect a rebate of $750 for individual filers and double that amount for married couples filing jointly.
To avail of the rebate, people must be full-time residents of the state in 2021 and should be at least 18 years on December 31, 2021.
Residents must have filed their income tax returns on or before June 30 to receive their stimulus check under the first round by September 30. This has been revealed on the website of the Dept. of Revenue. Those who have opted for an extended filing date, which is October 2022 will receive their stimulus check by the end of January next year.
The Delaware Relief Rebate Program was signed into law by Governor John Carney and allows a one-off stimulus check worth $300 to adult residents of the state. those who have filed their state income tax returns for 2021 by the due date have automatically qualified for the payment and do not have to take any other step to receive it. The stimulus checks are going out through summer, as revealed by the Dept. of Finance website of Delaware.
Illinois is giving residents up to $300 residents filing jointly and declaring at least one dependent. The payments are under the state Family Relief Plan. For a single filer to get the stimulus check, their income should be within $200,000.
Minnesota has initiated the Frontline Workers Payments program and has set aside $200 million for eligible workers. Around 667,000 workers will qualify to form the payment of $750.
Indiana will give up to $650 for residents filing jointly while individual filers will receive half that amount.