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Saturday, May 21, 2022

Stimulus Check Update: Fourth Check Coming In Different States

While it is unlikely that a fourth stimulus check would be provided by the federal government, several states have started on their own. Quite a few states have been doing their part by ensuring that the federal stimulus money gets distributed equally to those deemed eligible.

As a major part of the American Rescue Plan, the states have been allotted almost $200 billion as their expenditure for the recovery of the American economy from the COVID-19 pandemic. Several states have their deadline in December to send this money out, with Governors already doling out cash where they feel it is needed the most. 

State Stimulus Check Payments

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Currently, California is the only state that has delivered its own form of a stimulus check- with its own money. The state budget surplus of the state has been utilized for the purpose- due to the unique tax system of the state. California seems to have a progressive income tax schedule- which implies that the more money you make- the more money you would pay in taxes.

This budget has allowed for residents to be paid around $500 to $600 when they have an annual earning of $30,0000 -$75,0000. 

Colorado has also sent out a stimulus check worth $375, which has been received by those individuals who have been issued at least one unemployment payment between March 15, and October 12, 2020.

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Workers of a higher income have not been considered eligible for this. Maryland had previously passed legislation quite a few months ago which aimed at repealing every state as well as local taxes on unemployment benefits while putting forth stimulus payments of $500 for families. 

The stimulus check program of New Mexico has been set at $5 million- which would be distributed to New Mexicans that weren’t considered eligible for the federal stimulus packages.

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