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Wednesday, September 28, 2022

Stimulus Check Update- Millions Are In Line To Receive Direct Payments

The Indiana House recently approved a bill that would see around $200 in stimulus check rebates to those who were deemed eligible from the state’s bulging budget surplus.

Under this bill, every taxpayer of the state who had filed a tax return in 2020 or 2021 will be receiving a refund. As it has been reported, no further action will be required on their part. In a statement, Governor Eric Holcomb went on to state that this rebate would definitely fulfill everything that they had set out to accomplish when he had called for the General Assembly into special session in order to help the citizens from suffering from high inflation rates. Originally, the Governor had proposed a refund of $225- which was a result of the state’s record $6.1 billion in cash reserves.

Stimulus Check Payment Issued in Indiana

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The compromise that the government then introduced would be utilizing around $1 billion for the Stimulus Checks– with the reduced amount ensuring more citizens would be receiving a piece of the elusive pot. The bill was then passed 93-6 with several Democrats also voting in favor of the funding. The deal would also include a tax exemption for an adopted child, along with cutting the state’s tax on children’s diapers, while increasing the adoption tax credit. Although the details of the Stimulus Check have not been made public, this money will be distributed to around 4 million taxpayers. 

The taxpayer refund will also come in addition to the automatic taxpayer refunds of the state- which were issued in the spring. Most of the qualifying citizens will be receiving a sum of $125. Close to 4.3 million individuals will be receiving this payment- about 85% of the entire population of the state. The spending package will also be including a sum of $1 billion in additional funding for the teachers’ pensions. 

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