Stimulus Payments September 2022: Who will receive these checks?

While the recent spike in inflation has tapered following a hike in the interest rate by the Federal Reserve, the cost of living in the United States of America is still significantly higher than during the start of the year.

With the centre refusing to sanction further stimulus payments, states are left to their own devices in order to help offer some financial relief to their residents.

Some of the methods being used to relieve the financial burden on residents include tax holidays, direct payments, and other types of stimulus.

In the last year alone, shelter costs have risen 5.7 percent while cost of food has gone up by 8.5pc. The price of gas however continues to fall.

The US Bureau of Labor Statistics announced that the recent inflation rate is at 8.5pc with supply-chain issues, Russia’s invasion of Ukraine and the repercussions of the COVID-19 lockdown measures all playing a role in the rise in inflation.

1. Colorado

The state of Colorado introduced an initiative called The Colorado Cash Back program, which will see almost all tax payers receive a check. Citing the Taxpayer’s Bill of Rights (TABOR), residents are entitled to any surplus from the state’s revenue.

Individual residents can expect 750 dollars while couples filing jointly will receive 1,500 dollars.

2. Illinois

Residents in Illinois are set to benefit from the Illinois Family Relief Plan, which is targeted at low income residents who are struggling to cope with the increase in prices.

Single filers will receive 50 dollars, while couples will receive 100 dollars. Families with dependents are entitled to payments up to 300 dollars.

For a single filer to be eligible for the payment, their income cannot exceed 200,000 dollars.

3. Minnesota

The Frontline Worker Payments program in Minnesota has earmarked 500 million dollars to pay eligible workers. Approximately 667,000 will qualify for the 750 dollar payment.

4. Indiana

The state of Indiana will provide its residents with rebates worth up to 650 dollars. Individual tax payers will receive 325 dollars while couples filing jointly will receive 650 dollars.

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