Stimulus Check 2023: Keep An Eye Out For State Initiatives

0
64
Stimulus Check
Stimulus Check

When the federal government’s stimulus check funding ran up at the end of 2021, it was up to the states to provide residents with relief. When prices rose across the US in 2022 due to high inflation, these payments aided Americans. 

Prices for all goods and services increased due to the biggest inflation in more than forty years. The pandemic has had a profound effect on several businesses, resulting in broad-ranging consequences. Even though 21 states distributed inflation relief stimulus checks to residents in 2022, the number of states doing so has since declined, and only a few still distribute funds to their citizens. 

Stimulus Check For Certain States

The majority of states have so far backed away from further funding in 2023. However, several municipal and state governments still provide stimulus money in various forms.

While Americans were barred from receiving more stimulus funds after 2021, certain states would still get them in 2023. The Internal Revenue Service has issued a warning to taxpayers that their refunds in 2023 will be significantly smaller than payments made during the epidemic years since refunds have also been reduced. Due to the absence of Economic Impact Payments in 2022, taxpayers did not get an extra Stimulus Check with their tax return.

But even as prices remained high throughout, millions of people were able to stay afloat thanks to the support provided by state governments through various stimulus checks. The federal government announced on Wednesday that consumer prices rose in April once more and that underlying inflation measures remained strong.

There is still hope for those impacted by the outbreak and later by the record inflation, with communities stepping in to aid low- and moderate-income inhabitants. 

Cities have also intervened with direct Stimulus Check assistance programs. The Massachusetts city of Cambridge has announced its second round of resident assistance. The city distributed over $22 million in its initial phase in 2022 from monies obtained under the American Rescue Plan Act, which President Biden signed in March 2021.