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Friday, July 1, 2022

Stimulus Check Update: States Have Been Issuing Money

While the federal government has not spoken about any official fourth stimulus check payment, most states have taken up the duty. Several states in the country have been making sure that the federal stimulus money gets delivered to citizens who need it.

As part of the stimulus relief bill of the American Rescue Plan, states have been allotted a sum of over $200 billion to spend in their avenue towards economic recovery from the pandemic. Currently, most of the states have until the end of the year to push out their money, but this hasn’t stopped most governors from already doling out cash where they see fit. 

State Stimulus Check Payments

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As of now, California remains the only state to have its own form of stimulus check with the money from its own budget. The Golden State currently enjoying a state budget surplus- largely due to the tax system in place- which has allowed the administration to funnel funds in the form of stimulus payment.

As has been recorded, the state has a progressive income tax schedule, which implies that the more one makes, the more they pay in taxes. This also includes thrifty budgeting- which has provided enough money to send out payments in the amounts of $500 or $600. 

The state of Colorado has been sending in a stimulus check worth $375 to those who have previously received at least a single unemployment payment between March and October last year. Most of the higher-income workers have already qualified for a payment over $500 per week- which negates their eligibility for unemployment benefits.

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Maryland has also passed major legislation just a few months back which would repeal the most state and local taxes on unemployment benefits- which also includes immediate stimulus payments of around $500 for families. 

The stimulus check program for New Mexico has already set aside $5 million to distribute to non-eligible New Mexicans.

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