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Monday, July 4, 2022

Stimulus Check Update: $525 To Be Sent Only To Homeowners?

The Republicans in the state of Texas have decided to use billions in pandemic relief as stimulus check payments to homeowners. Some believe that the move is quite politically timed, as the payments will be sent just ahead of the November elections next year- after which it would be referred to as the property tax relief.

Most of the house lawmakers have been pushing for a proposal that would see around $525 being sent in the mailboxes of around 5.7 million homeowners who have already claimed for a homestead exemption- by tapping in $3 billion to the state under the American Rescue Plan Act.

Texas Spending of Stimulus Check Money Benefits Homeowners 

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The Senate Bill 1, which came out of the House on the afternoon on Friday, has been thought to be a roundabout way for legislators of the Republican party to deliver on an issue that has been under wraps for a considerable period of time- property tax relief- without breaking the federal rule of utilizing stimulus check dollars to implement tax cuts. The bill was originally propounded from the Senate as a straightforward tax cut bill.

The lawmakers in the House were then gutted to see the proposal from the Senate being used as a vehicle for the $3 billion in payments to homeowners. Now, the legislators in both of the chambers would have to come out for a compromise. 

The lawmakers in the House have already tried justifying the use of stimulus check money- stating that their plan would definitely address the negative economic impacts which have been a straight result from the COVID-19 pandemic- which also includes assistance to households. Interestingly, not every household would find themselves in an advantageous position- as excluded from this relief are renters- who make up almost a third of the entire population. 

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To this, the Republicans have argued that renters have already been seen to since the state has already received stimulus check money worth $2 billion.

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