Although the federal government has stopped issuing stimulus checks to the public to combat the crisis caused by the Covid-19 coronavirus pandemic, some states are about to send a fourth check to households to try to mitigate the effects of inflation in the increase of prices of goods and services resulting from the rise in the price of oil, as well as the war on the other side of the world.
Only a few people are eligible.
These payments may assist 87 million residents, albeit not everyone may be eligible.
The sums of money will now be far smaller than those approved during the pandemic, largely to avoid aggravating inflation by injecting more money into a market where supply is already less than demand.
Inflation increased by 7.9% in February alone, resulting in consumer prices reaching a 40-year high.
Idaho, Georgia, Indiana, New Jersey, and New Mexico are the five states that have previously accepted the idea to send a new stimulus check against inflation.
— IRSnews (@IRSnews) April 4, 2022
many types of stimulus
Meanwhile, the plan is being considered in California, Hawaii, Kentucky, Maine, Minnesota, and New York.
Governor Brad Little approved a law providing $350 million in tax refunds to Idaho households last month. In Georgia, certain people who submitted their tax returns for the years 2021 and 2022 will receive refunds ranging from $250 for single taxpayers to $500 for joint filers.
Meanwhile, Indiana taxpayers who filed their returns on time last year may be eligible for a one-time $125 rebate. Nearly one million eligible households in New Jersey will get one-time refunds of up to $500.
- A Maximum of $500 in Stimulus Checks Will Be Distributed to Key Workers in Massachusetts
- The Fourth Stimulus Check Has Been Updated—economic Conditions Could Deteriorate
- Extra Cash Bonus Millions of Taxpayers in This State Will Receive a One-time Stimulus Check of $500, $375, or $250 in Tax Refunds
Finally, married couples filing jointly in New Mexico will receive $500.