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Tuesday, January 25, 2022

Stimulus Check Update: Money Has Been Sent Out

The last week saw multiple rounds of stimulus check money from varied parts of the new stimulus relief bill deposited into accounts. These were mostly sent to the accounts of eligible residents and families in the state of California. One of them was the third round of the advance monthly payment for the CTC which was deposited into multiple bank accounts on the 15th of September.

The CTC is a benefit that is made available to families regardless of how little money they can accrue- even if they have no relation with filing taxes. Since July, most payments have come through in the form of $300 or $350 payments every month per child and will continue through December. 

California State Stimulus Check Payment

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Earlier, Governor Gavin Newsom had signed the Golden State Stimulus check, which saw the creation of the first state stimulus plans in the country. Since the Golden State operates under a progressive tax schedule, it implies that the more one learns, the more they pay.

This, along with some thrifty budgeting, has left the state with quite an advantageous surplus which Newsom has decided to use in order to fund the stimulus payments for the residents of the state. These will be used in conjunction with federal payments which went out the previous year. 

It has been stated that most of the qualifying residents would definitely be receiving a stimulus check sum of $600 or $500 which depends on their annual income and the number of dependents that they claim. Some, who haven’t claimed their dependents yet, and have also not received their stimulus payment may receive a sum of $1,100 in their next payment which would supplement an entire new stimulus payment. 

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It has been reported that the second round of stimulus check payments went out the previous week, which saw almost 2 million checks being sent out to around 650,000 people. 

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