Quite a few states like Florida, California, as well as New Mexico, have decided to deliver some extra stimulus check payments to their residents. This would be a part of the American Rescue Plan, and could very well be a godsend due to the dip in the more stimulus packages.
The last stimulus package, which was passed in March delivered a sum of $1,200 to those American citizens who were evidently struggling under the pandemic. Interestingly, $350 billion was still kept separate for state and local governments if they decided to make more payments to the residents if the need arose.
Most of the states have developed their own plans for delivering the stimulus check money directly to the people, which will help in settling mortgages as well as rent payments. In the end, it would simply boost the economy. California hasn’t currently used the money from the American Rescue Plan but has been issuing the money from its own state funds in order to bring about the second state stimulus package.
The money comes from the quirk in the tax system of the state, coupled with a record-shattering stock market. Such factors have inevitably left the state with quite a huge budget surplus as reported by Yahoo.
Extra Financial Relief Under the State Stimulus Check
Several other states like Colorado, Maryland, Georgia, Michigan, and New York have also issued several other stimulus check payments to its residents. In New York, residents who are undocumented as well as who were rendered disqualified from the previous three federal checks also received stimulus payments going upwards of $15,600. Michigan and Georgia also used state funds to thank the teachers who worked tirelessly during this period.
Several analysts have already prescribed different ways through which one can find financial relief in the event that one’s state hasn’t offered any extra stimulus check. One way involves dealing with credit card debt- for it would help you take control of your finances.