As inflation continues to rise, many states have begun sending out aid to their taxpayers. Recently, over 14 states have approved a fourth stimulus check. However, this stimulus check will not follow the COVID-19 pandemic relief measures Americans have seen previously. These payments will exude a wide variety of monetary payouts and targeted locations. Government officials are aiming to ease the financial burdens brought on by COVID-19 and inflation.
States That Are Eligible
According to Forbes Advisor, the 14 states that are eligible include:
- California
- Colorado
- Delaware
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Maine
- New Jersey
- New Mexico
- Minnesota
- South Carolina
- Virginia
Each state is providing ways that Americans can become eligible for relief payments. Learn more about the additional states that are currently working to get the stimulus approved.
Additional Rebates
Energy Rebate
One way government officials have begun to step in is through the Gas Rebate Act of 2022. The act would rebate energy payments of $100 per month. This would be available to eligible taxpayers in all states by the end of 2022. Dependents would also be eligible for an additional $100 a month.
The payment structure would be similar to the previous stimulus plans, which allow married filers to receive the full payment with incomes up to $150,000 and single filers earning up to $75,000. However, Congress is still discussing the possibility of offering payment plans in this manner.
Tax Rebates
The 14 states have initiated offering tax rebates to their residents which will vary in each state, based on the available funds. While each state is considering different ways for payout, many are doing so through tax rebates, passing bills, grocery tax cuts, and an additional budgeted surplus within the state.
Frontline Workers
States could potentially limit the fourth stimulus check to frontline workers. States will require a certain income standard or direct amount of time spent working with COVID-19 patients.
Unemployed Workers
In addition, states will also begin to limit the funds to unemployed workers between specific dates. This is for state residents who were not able to work due to COVID-19, without access to remote work.
What's Next For Americans
With the additional measures being taken, there are many steps that go into this funding initiative. Legislators must push the relief through each state. While implementing gas rebates, tax stipends, and stimulus checks is beneficial to employees, there is still a concern about rising inflation. The additional rebates are going to be crafted by each state and have different requirements in which they will allocate the funds.
Partner With Us
When you partner with GMS, our HR experts can ensure you never miss out on a legislative change. As states continue to implement the fourth stimulus check, you won’t miss out on an update. GMS removes the liabilities that come along with running a business. Taxes, payroll, and additional services are streamlined for you and your employees. Contact us today.