On July 11, House Speaker Ron Mariano, Senate President Karen Spilka, Ways and Means chairs Representative Aaron Michlewitz, and Sen. Michael Rodrigues tweeted that Massachusetts had announced a $500 million package of tax rebate stimulus check centered around “a framework for radical reforms to our taxation system that will put funds back into the pockets of lower- and middle-income residents of the Commonwealth.”
The Massachusetts legislature just last week said it will create the Taxpayer Energy & Economic Assistance Fund to provide rebates for personal economic relief. In order to counteract the rising cost of living, Spilka and Mariano proposed a one-time tax credit of up to $500 to be given to Massachusetts citizens by September 30.
Are You Eligible For Another Stimulus Check?
According to their joint statement, “the adjustments to our tax code would diminish income disparity, increase Massachusetts‘ competitiveness on the national level, and lessen the devastating effects of rising prices, inflation, and economic instability. Together with the payments for middle-class citizens’ economic assistance announced last week, these modifications bring the Legislature’s taxpayer relief package to a total of $1 billion.
They also claim that the planned tax code adjustments amount to at least $500 million. Additionally, qualified Massachusetts residents will get one-time Stimulus Checks of $500 for married couples filing joint returns and $250 for individuals filing individual returns by September 30, 2022. The minimum and maximum yearly incomes for individual taxpayers and joint filers, respectively, will be $38,000 and $100,000, respectively, as reported in 2021.
The Massachusetts Legislature “has heard loud and clear that higher expenditures due to inflation have cut into family budgets,” Spilka noted in a tweet. “Whether it is the growing price of petrol, food, or summer apparel for kids,” she continued. “These Stimulus Checks demonstrate the Legislature’s dedication to providing immediate financial assistance directly to Commonwealth citizens, rather than to huge oil firms that continue to benefit from global unrest and unstable economies,” the legislature said.