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Monday, August 15, 2022

States Issue Their Version Of Stimulus Check Plus Cash Bonuses

The infusion of around $1T paid to Americans through 3 stimulus checks has succeeded in bringing down the rampant poverty following the pandemic. Millions of households who lost their source of income were able to get through the pandemic with its help. But the spread of the Delta variant of COVID-19 has brought back the focus on the economic downturn.

Even as Americans await some good news from the White House, states on their own are moving to give out payments either from their funds or from federal funds received to cope with the pandemic.

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Some states are drawing from their stimulus funds and state surplus funds to help particular groups of people such as teachers and teaching support staff. More direct aid is set to reach 25M people from this month.

Most households have spent the amount received in the 3rd stimulus check which the administration began distributing at the beginning of this year. In a significant development, the extended unemployment remunerations are finally set to conclude on the 6th of this month. This will further inconvenience 7.5M people who continue to be out of work.

A quarter of American households are still struggling with their household expenditures as per census data obtained for the preceding two months.

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Unemployment experts Andrew Stettner of Century Foundation says that people had hoped for a semblance of normalcy by this time, but it appears that normalcy is still some way off.

Some lawmakers have petitioned for a fourth stimulus payment, but it appears unlikely to materialize at this juncture. The Biden administration remains focused on the infrastructure bill.

States Issue Their Own Stimulus Checks

California has begun sending out $1,100 state stimulus checks to 25M of its residents. This is the 2nd installment of the Golden State stimulus check. the second check will go only to people who have a dependent.

Maryland has authorized their version of the stimulus check for those who applied for Earned Income Tax Credit on their returns. It is a credit for low and moderate-income households.

Florida has gone in for $1,000 for the teachers in public charter and K-12 schools as a mark of appreciation, according to Governor DeSantis.

Teachers in Texas will also receive a bonus check of up to $2,000 at the beginning of the academic year. this stimulus check has been approved by specific districts in the state. Teachers and other staff in Denton will get $500 as a retention bonus while those in Irving will get a one-time payment of $2,000.

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