These states are sending residents stimulus checks up to $1,500 to combat inflation




Last week, Florida Gov. Ron DeSantis announced that low-income families in the state will receive checks worth $450 per child, in an effort to ease the toll decades-high inflation is taking on household bottom lines.

Florida joins more than a dozen other states that have implemented some type of relief effort as ever-increasing prices batter household budgets across the country.

The stimulus efforts vary by state, but include one-time payments, tax refunds, tax credits, and suspending gas taxes.

Inflation soared 9.1% in June compared to a year ago, continuing an expensive trend that's been hammering households for a year. Gas, housing, and food prices have been especially burdensome, though drivers seem to be finally getting some relief at the pump.

Many states, including Florida, are using surplus funds from federal COVID-19 aid packages to fund stimulus efforts. The measures are often included in state budget proposals, which means residents will have to wait a few months for the relief.

Here's a breakdown of some of the state stimulus efforts so far.

Map of states with inflation stimulus programs
Map of states with inflation stimulus programs  

California

Qualifying California residents will receive relief checks worth up to $1,050, Gov. Gavin Newsom announced last month. The payments vary depending on filing status and income. Filers receive one additional payment if they have at least one dependent, but do not get more money for each additional dependent. For example, a single parent earning less than $75,000 would get $700, regardless of whether they have one child or three.

Single filers get:

  • $350 if they make up to $75,000. Plus an additional $350 if they have at least one dependent.

  • $250 if they make between $75,000 and $125,000. Plus an additional $250 if they have at least one dependent.

  • $200 if they make between $125,000 and $250,000. Plus an additional $200 if they have at least one dependent.

Joint filers get:

  • $700 if they make up to $150,000. Plus an additional $350 if they have at least one dependent. A couple filing jointly with a dependent in this tier gets $1,050.

  • $500 if they earn between $150,000 to $250,000. Plus $250 if they have at least one dependent.

  • $400 if they earn between $250,000 and $500,000. Plus $200 if they have at least one dependent.

Those who earn above those income limits will not get a payment. Recipients can expect direct deposit or debit cards by late October, according to the Newsom administration.

Additionally, the state is suspending its sales tax on diesel fuel and providing money to help people pay past-due rent and utility bills.

Colorado

Colorado taxpayers will receive one-time rebates worth $750 for individuals and $1,500 for joint filers. With what's called the Colorado Cashback tax rebate, residents who filed a state tax return can expect payments before Sept. 30, 2022, while those who filed for an extension will receive the refund by Jan. 31, 2023, according to Gov. Jared Polis's administration.

The payments will be mailed via check to the address listed on each taxpayer's 2021 return.

Delaware

Delaware began issuing $300 relief checks to each adult resident in May of this year. It will continue to send out the payments throughout the summer to adults who filed 2021 state tax returns, as well as to other residents who may not returns, as identified by state agencies. Residents can track their payments here.

Florida

About 60,000 low-income families will receive one-time payments worth $450 per qualifying child, including foster children and adopted children. The checks are already being mailed, the Florida Department of Children and Families told Fortune last week.

Georgia

Georgia began sending out one-time relief payments worth up to $250 for single filers, $500 for joint filers, and $375 for head-of-household filers in May.

Hawaii

Hawaii Gov. David Ige signed a tax rebate into law at the end of June. Taxpayers who earn less than $100,000 per year ($200,000 for couples filing jointly) will get $300; those earning more will get $100. The rebates are expected to be sent out starting at the end of August.

Idaho

In February, Idaho Gov. Brad Little approved a measure to send tax rebates amounting to $75 per taxpayer and each dependent, or 12% of their 2020 taxes, whichever is greater.

Illinois

Illinois Gov. J.B. Pritzker has signed off on a variety of measures to help families. These include $50 tax rebates to all individuals who made less than $200,000 in 2021, and $100 for couples earning less than $400,000. Taxpayers will also receive $100 per dependent, up to three dependents.

Additionally, the state is suspending sales tax on groceries through June 20, 2023; delaying a scheduled increase in the state's motor fuel tax; and reducing sales tax on some back-to-school items from August 5 to 14, 2022.

Homeowners are also getting a tax break: The state is providing property tax rebates for eligible homeowners earning less than $250,000 for individuals or $500,000 couples filing jointly. Residents will receive this rebate and the tax rebate automatically.

Indiana

Indiana residents will receive $125 each after they file their 2021 tax returns. Those who typically earn too little to file a tax return also qualify for the payments.

Indiana Gov. Eric Holcomb also called for a second payment, worth $225 per taxpayer. That has yet to be approved by the state legislature.

Maine

Qualifying Maine residents began receiving one-time rebates worth $850 in June. The average Maine family should have received $1,700, according to Gov. Janet Mills. Those who have not received a payment have until Oct. 31, 2022, to file their 2021 Maine individual income tax return to get one.

Massachusetts

The Massachusetts legislature has sent multiple cash payments to low-income essential workers this year, including one worth $500.

More widespread relief may be on the way: Last week, the Massachusetts Senate approved payments worth $250 to individual taxpayers earning between $38,000 to $100,000, and worth $500 to married couples earning up to $150,000. If this plan is reconciled with the state's House chamber and signed by Gov. Charlie Baker, residents can expect the payments by the end of September, according to local news.

New Jersey

New Jersey residents with at least one qualifying dependent have started to receive rebate checks worth up to $500. The rebates are being sent by paper check.

Some homeowners and renters can also apply to receive a tax rebate next year.

New Mexico

Qualifying New Mexico residents will get a refundable child tax credit worth up to $175 per child, as well as a one-time, refundable income tax rebate worth $250 for qualifying single filers and $500 for married couples filing jointly. The rebates started being distributed in June, according to local media.

Oregon

Hundreds of thousands of low-income Oregonians received a one-time payment of $600 between June 23 and July 11, according to the state's government.

South Carolina

South Carolina tax filers will receive rebates worth up to $800 by the end of the year. The actual amount of their rebate will depend on individual tax circumstances. The estimated 44% of South Carolina filers who do not pay state income tax will not receive a rebate.

Virginia

Qualifying Virginia residents will receive a one-time payment worth $250 for individuals and $500 for couples. Those who filed their state tax return on time can expect to receive the rebate this fall.

Other proposals

Legislators in some states not listed above have proposed one-time payments or other measures to help families cope with rising costs, but they have not been signed into law. Kansas Gov. Laura Kelly, for example, has proposed sending a one-time $250 tax rebate-$500 for joint filers-to all Kansas residents who filed a 2020 tax return. In North Carolina, Democrats want to send $200 to eligible drivers.

And some states-including Connecticut, Georgia, and Maryland-have put gas tax holidays into place to help tame costs at the pump. Though President Joe Biden has called for one at the federal level, that has not materialized.

Still others have implemented or expanded their own Child Tax Credit after the federal government failed to renew the enhanced version. That includes Vermont, which will send child tax credit checks worth $1,000 per child to most families with children 5 and under, and Connecticut, which is offering a one-time tax rebate worth up to $250 per child, capped at $750 for three children.

Pennsylvania and New York are sending tax rebates to homeowners.

This story was originally featured on Fortune.com

COMMENTS

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Economy