High inflation, mostly owing to increased gas prices, has pushed many states, including Pennsylvania, to come up with financial assistance. Governor Tom Wolf intends to provide financial assistance to people to help alleviate the state’s cost-of-living crisis. Wolf has recommended that millions of Pennsylvania residents receive $2,000 stimulus cheques. Wolf intends to send the stimulus payments using the American Rescue Plan funds.
Who Will Get the Pennsylvania Stimulus Checks?
Governor Wolf recently proposed utilizing $500 million from the American Rescue Plan, which was passed in March of last year, to deliver $2,000 in Pennsylvania stimulus payments. Individuals with an annual income of $80,000 or less would be eligible for the Pennsylvania stimulus cheques.
“Everything from petrol to groceries is rising in price, and for Pennsylvanians living paycheck to paycheck, this might mean difficult decisions,” Wolf said last week.
Wolf’s planned $1.7 billion program includes $225 million in financing for small businesses and nearly $300 million for the state’s healthcare system and delivering Pennsylvania stimulus payments.
There is no word on when Wolf’s idea will be approved by the General Assembly. $2 billion in money from the American Rescue Plan has yet to be allocated to the state. If no commitments are made by December 2024, the money will be returned to the federal government.
The other States That Are Providing Assistance
Because of escalating gas prices, some additional states are providing or planning to provide direct help to residents. Connecticut, for example, has enacted legislation to repeal the state’s gasoline taxes. The temporary suspension of state gasoline taxes will last until June 30. During the same time period, the state has also removed fares on public buses.
Georgia has also halted gasoline taxes until May 31. Though little information about the suspension of gasoline taxes is available, Gov. Kemp indicated last month in a tweet that “the suspension of the 29.1 cent tax on motor fuel and 32.6 cent tax on diesel will make its way to the consumer.”
State taxes in Maryland have also been delayed, but only until April 18th.
Many states also provide people with direct subsidies or cheques to help them cope with rising costs. Idaho, for example, will issue a check for $75 or 12% of individual taxes paid to the state in 2020, whichever is greater.
New Mexico recently enacted a law that will give single taxpayers $500 and joint filers $1,000 in tax refunds. The payment will be made to eligible taxpayers automatically in July and August.
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Last Thursday, Gov. Michelle Lujan Grisham tweeted, “SIGNED: Economic assistance for New Mexicans, reducing the strain of high national prices by putting hundreds of millions of dollars in New Mexicans’ pockets and preserving their salary.”
Indiana is also mailing a $125 stimulus check, and those who haven’t received it by May 1 are expected to do so.