Why some states are sending out the stimulus check again: To assist improve the U.S. economy at the height of the Covid-19 pandemic in March 2020, U.S. politicians chose a bold course of action and passed a $2.2-trillion stimulus plan. It was followed by two further installments of coronavirus alleviation later in 2020 and then again in 2021.
Altogether, it totaled up to one of the most generous fiscal responses to the virus globally – but some economists have said it also resulted in the near-record high inflation that is now impacting Americans.
There is evidence that the stimulus, specifically the final wave, may have fuelled higher and higher prices, and in turn, hurt the very individuals it was supposedly designed to benefit. The payments certainly fueled the inflation, even though the other issues – including supply chain delays and the crisis in Ukraine, which increased oil prices are also to blame.
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American Citizens in Need
It could be argued that Americans are hurting as much, and perhaps even more than they were at this time two years ago when the first checks started reaching bank accounts. Gasoline prices are close to a national average of $5 per gallon, while everything from food to rent has soared at rates not seen since the early 1980s.
President Joe Biden has proposed a federal gas tax holiday, which could save Americans roughly 18.4 cents per gallon, while other schemes have called for sending Americans a gas rebate card. Whether that would genuinely help, or just further push up prices, is still being questioned.
More Stimulus Checks Coming
Direct financial support could also be on the way, at least for residents in a few states. In May, it was revealed that citizens in California, Colorado, Delaware, and Indiana might get stimulus payments. The Golden State Stimulus I (GGS 1) and Golden State Stimulus II (GSS II) would see many Californians getting upwards of $1,200, followed by as much as $1,100. Californians who earn less than $75,000 a year and who paid their taxes by October 15, 2021, will qualify.
Colorado Gov. Jared Polis signed a law in late May to make payments of at least $400 to taxpayers this year, with payments slated to come in September. The State of Delaware was also aiming to send around $300 to individuals, or $600 to married couples. The reimbursements will be provided to Delaware citizens who have filed a personal income tax return for 2020. The rebate also applies to residents who did not earn enough to submit taxes in 2020.
In Indiana, those who paid taxes as individuals are slated to get a payment of $125, while married couples will receive $250. Any person who filed taxes in the state before January 3, 2022, will be eligible. Georgia consumers could get rebate payments, as could those in Hawaii later this year; while Idaho began giving $75 rebate payments to its inhabitants in March.
On June 1, Maine began to issue stimulus payments of $850 to residents, while some frontline employees in Minnesota might also receive a one-time payment of $750 later this year. New Jersey, which had issued some taxpayers a “Middle-Class Tax Rebate” of up to $500 last year, is now examining an option to send $500 to residents. Multiple refunds have also been approved in New Mexico, including a $250 stimulus check for residents making under $75,000 annually, while an additional $500 rebate will be paid to all taxpayers in the Land of Enchantment.
The goal is that these payments will truly aid those Americans who are having a hard time making ends meet and that it won’t merely serve to further push up inflation for everyone else. For more such updates do follow us only on Lee Daily
