Governor Tom Wolf urges state legislators to distribute the $2 billion in Stimulus Check funds that have been lying in their coffers. Wolf wants a portion of the money to be placed into Pennsylvanians’ bank accounts. The “Pennsylvania Opportunity Plan” is the name of his plan.
The goal, according to the governor’s administration, is to assist families that are still struggling financially as a result of the pandemic. The subsidies are meant to help households better manage rising living costs, in addition to covering pandemic-related expenses. Households with earnings of $80,000 or less would receive an additional $2,000 under Wolf’s plan. A one-time Stimulus Check of $2,000 would be made to households earning $50,000 or less. Families with salaries ranging from $50,000 to $80,000 would receive a $1,500 Stimulus Check.
The New Stimulus Checks Will Not Be Taxable
If the bill passes, stimulus checks would be issued by the Pennsylvania Treasury and would not be taxed as income.
Wolf’s $1.7 billion budget plan includes $225 million for small companies, $325 million for the state’s healthcare system, $204 million for direct real estate tax relief, and $450 million for community conservation, preservation, and revitalization. To put it another way, the stimulus funds will be reinvested in the local economy.
Pennsylvania now has more than $10.7 billion in its bank account, and state officials anticipate a $2.5 billion income surplus. Understandably, Wolf and his Democratic colleagues believe now is a good moment to help suffering families get through the rest of the epidemic. However, 13.6 percent of Pennsylvanians live in poverty today, and the jobless rate was 4.9 percent in March. And these figures ignore those who toil away every day, just scraping by to keep their heads above water.