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Tuesday, September 27, 2022

Stimulus Check From Indiana: Lawmakers Sending Tax Refunds

The lawmakers in Indiana ultimately agreed on Friday to provide the tax rebate to its citizens after debating delivering financial assistance to the state’s citizens. There will be a $200 one-time stimulus payment from Indiana. Gov. Eric Holcomb’s initial rebate proposal was $25 less than the final payout amount.

A relief measure (Senate Bill 2) that permits delivering $200 in refund payments to qualified residents was signed by the governor of Indiana on Friday. Cohabitating couples filing jointly are qualified for a $400 tax credit. To distribute this one-time stimulus check from Indiana, lawmakers have put aside $1 billion. About 4 million taxpayers are expected to profit from the rebate.

Who Are Eligible For This Stimulus Check Indiana? 

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There won’t be any limitations on who can receive the payout, so anyone who submitted a tax return for 2020 or 2021 will be eligible for the reimbursement. The $200 refund can also be used as a prospective tax credit by someone who didn’t file a tax form last year. In 2023, those who are not tax filers, receive social security or disability benefits, or both will be eligible to apply for the Stimulus Check.

The plan to issue a one-time rebate was first presented by Gov. Holcomb earlier in June. However, the governor at the time suggested mailing qualified residents $225.

Republicans in the legislature objected to the amount, claiming that part of the funds needed to be used to support the state’s teachers’ pension plan or to provide a utility tax vacation. Furthermore, Republicans in the state Senate voiced worries that increasing the money supply might worsen inflation.

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The politicians finally agreed on Senate Bill 2, which gives $200 to the taxpayers. Throughout a special parliamentary session last week, the plan was adopted by a vote of 37-9.

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