Update Of New Stimulus Check Payments To Fight With The Rise In Inflation

Inflation Reduction Act

The pressure of the high price of gas and other necessary commodities are increasing day by day and there might be a possibility for relief to come for the citizens of America. There are several proposals that have been either accepted or being considered by both state and Federal Government. These proposals are all related to distributing new stimulus check payments or rebates to the American citizens amidst the rising inflation. 

Federal And State-Level Proposals For New Stimulus Check Payments

The new stimulus check payments that are being presently distributed by several states are giving less money as compared to the initial payments. This is because the Government is dealing with the issue of inflation very carefully. As per Andrew Patterson, Vanguard’s economist, this proposal emphasizes certain groups and sectors like disbursements and gas credits that are majorly dependent on the income of individuals. 

There are three lawmakers namely Lauren Underwood, John Larson, and Mike Thompson who launched the Gas Rebate Act of 2022 on 17th March where eligible individuals will get $100 every month as an energy rebate. This will be given only when the price of gas will be more than $4 per gallon and every dependent will also get $100. 

Brad Little, the Governor of Idaho in the month of February approved a bill that allocated $350 million as tax rebates to the resident of that state. The individuals must file their income tax returns for the years 2020 and 2021 along with the grocery-credit refund returns. The residents of Georgia who are eligible tax filers will be provided with $250 to a single filer, $375 to the head of the family, and $500 to joint filers. 

Similarly, residents of Indiana will also get a stimulus check of $125 after a surplus in its state budget. New Jersey and Mexico will give out direct payments of $500 and $250 respectively to assist the families in this tough time.

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