With any additional federal stimulus checks on hold, for the time being, it will be left to the states to come up with some type of assistance to help residents cope with inflationary pressures. People are receiving delayed stimulus payments from the federal government, while some states are issuing new ones.
The new wave of stimulus checks is expected to help about 87 million people in the United States. The checks are also projected to be smaller than the $1,400 third stimulus check under President Biden’s American Rescue Plan Act of 2021, which was signed into law.
The states are distributing their fourth stimulus check to residents to mitigate the negative impacts of the economic crisis brought on by the greatest rate of inflation since the 1980s. It has resulted in a rise in the cost of services and goods, owing in part to the rise in worldwide oil costs while Europe is engulfed in conflict.
Various states are distributing stimulus checks to various groups.
Inflation soared to 7.9% in February, setting a four-decade high in consumer prices. Georgia, Idaho, New Jersey, New Mexico, and Indiana are among the five states that have already approved the distribution of relief cheques.
Hawaii, California, Maine, Minnesota, New York, and Kentucky are all considering different versions of the stimulus check. Following Gov. Brad Little’s signature of a law, Idaho residents will get tax refunds totaling up to $350 million.
Georgia residents may be eligible for a $250 tax relief check for single filers and a $500 relief check for married couples filing jointly. Residents who have filed their tax returns for the years 2021-22 will receive these.
Residents of Indiana who have submitted their 2021 forms will receive a one-time $125 refund. Residents of New Jersey will receive a maximum of $500 refunds, with around a million people eligible. In addition, married couples in New Mexico who file jointly will receive a $500 relief check.