When the pandemic was at its peak, the federal government went about and sent several billions of stimulus check dollars to every state. From a theoretical point of view, it was much better to let most of the legislatures in the state identify and then address issues that are pandemic related- rather than throw a whole bunch of money at problems that come from the nation’s capital. Interestingly, every single state has brought out its own specific issues- with the influx of money from the federal government looking to fix most of the issues in the long run.
Stimulus Check Money Coming In For States That Have More Money
The last few months saw the states sitting on several stimulus check federal funds. In fact, some states like Pennsylvania didn’t even know if they wanted to spread this wealth to their constituents- or if they would be holding on to their money for a rainy day. Now, the problem that comes with holding on to such funds is that any money that is not going to be spent before the 31st of December, 2024- needs to be sent back to the coffers of the federal government.
Now, several states have found themselves in a pretty tricky position. Many have the desire to share the stimulus check payments with the state residents, but if they actually deposit a check with the bank account of every person that is living in the state- there’s a possibility that it will lead to an increase in inflation. And as we can understand- this will increase the prices of goods more. So, these states have decided to tighten the criteria of who will be receiving a stimulus payment- thereby sending it only to those with the greatest need.
Currently, states that have either approved of this legislation or do seem to be on the cusp of approving this legislation have to share the stimulus check wealth with those that need it. While most states are sending cash, some have devised new ways of putting the money right where it belongs.
