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Thursday, December 1, 2022

Stimulus Checks Can Be Expected In October

The pandemic chaos coupled with an inflation rate of 9.1% has made life a struggle for the citizens of America. Everything has turned so expensive that people are finding it difficult to make ends meet. 

The initial days of the pandemic saw several stimulus checks which gave a ray of hope to the people who were not employed, as then the employment rate was pretty high.

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Now with the unemployment rate being close to before the pandemic, fear of looming recession and lay-offs are a matter of concern making it difficult for further stimulus checks. Few states have stepped in to protect their residents from the high cost of living. 

California Offering Tax Rebate Stimulus Checks For Its Residents

Middle-Class Tax Refund is being issued by California for its residents. Depending on the income of the taxpayers a refund could be up to USD 1050. For residents to be eligible the rebate income for individual taxpayers should be less than USD 250,000 and for couples less than USD 500,000. Refunds are expected to roll out from October till January of 2023. The refund will be directly credited to the accounts of the registered residents and if not registered they will be issued debit cards. This stimulus package will be a welcome relief to the residents of California who are reeling under the ever-rising cost of gas, food, etc. 

Stimulus check packages are being offered to protect the residents from debt traps which could have far more disastrous consequences. People are taking up additional jobs to make ends meet until the cost of living starts to fall. The strong American economy makes this option viable. Other states are offering stimulus packages as well. New York is offering tax refunds of around USD 250 to its residents and they will be remitted soon.

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