As part of the Commonwealth’s Essential Employee Premium Pay Program, certain people in Massachusetts will begin receiving $500 Stimulus Checks from the state.
And over 300,000 individuals are likely to be eligible for financial assistance in this round of payments, which will be given out on Tuesday, June 7th. The federal government offered 3 rounds of stimulus checks in the first year of the epidemic, but that well has run dry, with President Biden now focusing on the rising rate of inflation.
The money being handed out in Massachusetts, on the other hand, is paid by the federal govt, with Governor Charlie Baker using funds from the American Rescue Plan.
Stimulus Check For Massachusetts
The initiative is intended to recognize the efforts of some employees who were required to continue working every day throughout the epidemic. Residents of Massachusetts who worked and filed a tax return in 2021 are eligible for the payouts. A single filer’s income cannot exceed $39,000, however, this limit rises with the size of the family. A family of four with an annual income of less than $79,500 is eligible for the entire payment.
Although the short-term economic constraints that prompted the government stimulus checks have subsided, the pandemic’s financial implications continue to be felt. The flood of money back into the stagnant US economy has led it to overheat, pushing up prices across the board, as the economy has opened up over the last year. For the year ending April 2022, the annual inflation rate in the United States was 8.3 percent nationwide. This has had a significant impact on household budgets and threatens to force more people into poverty unless wages increase at a comparable rate.