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Saturday, May 21, 2022

10 States Dispensing Stimulus Checks And Giving Tax Rebates In 2022

The federal government earned a lot of goodwill by acting at the right time when people were hurting the most during the peak months of the pandemic. They were quick to come up with a series of stimulus checks, ending n with the third. While some have termed these support measures as populist measures by politicians seeking cheap popularity, it is undeniable that at that period, that was the only way a large section of the population.

The chances of any further federal stimulus checks remain trapped in the quagmire of Washington politics. It is the states who have come to the rescue as even the Child Tax Credit has been upturned midstream by the Republican opposition.

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With the fall midterms fast approaching, the Republicans are in no mood to give Joe Biden any brownie points ahead of an election. So that leaves only the state governments.

States Are Giving Out Stimulus Checks As They Have Surplus Under The Federal Rescue Plan

State governments have been proposing stimulus checks for their residents for some time now. Many states have already sent stimulus checks to their residents, with the Golden State being the first off the mark. They have dispatched the Golden State Stimulus I and II.

Most other state governments are also flush with funds under the American Rescue Plan Act signed by President Biden in March 2021. And many states have enjoyed a budget surplus and have proposed various support measures from gas rebate checks to stimulus checks that will give back a part of the surplus in state budgets to residents.

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Colorado is giving a tax rebate to 3.1M full-time residents with $400 earmarked for single filers and double that amount for joint filers. Indiana has a system in place where excess reserve funds are automatically returned to its residents. For now, a $125 stimulus check will be sent before July.

Residents of Maine are getting $850, being funded by the budget surplus in the state and will start in May itself. New Mexico residents will get a tax rebate ranging from $250 to $500, depending on their income.

Illinois is paying up to $400 and the stimulus check will depend on the dependents living in the household.

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