Colorado, Delaware, Hawaii, Illinois, Indiana, Minnesota, New Jersey, Pennsylvania, Rhode Island, South Carolina, and Virginia are more states that are now offering stimulus payments. Earlier this year, a large number of others contributed financially.
Forbes noted that lawmakers are still debating potential legislation and that a few more states may soon announce stimulus packages, income tax rebates, and gas rebates.
Kentucky
A $1 billion taxpayer refund program from the Bluegrass State’s budget excess is on the table. Although the state House of Representatives has not yet voted on the measure, the Senate has approved it. According to The Commonwealth Journal, some politicians oppose the proposal and favor gradually lowering the income tax rate.
Montana
Additionally, Montana boasts a $1 billion annual budget surplus. According to the Montana Free Press, Republican factions in the state legislature have proposed two pieces of legislation to provide residents a rebate on their taxes.
According to one idea, homeowners who paid property taxes would receive $1,000, and people who paid state income taxes would receive $1,250. The second suggestion calls for a $3,000 income tax credit. According to Forbes, lawmakers had requested a special session to vote on the bills by the end of 2022, but that request was denied. The legislation might be examined in 2023.
North Carolina
A new law in North Carolina that would put the money back in residents’ pockets is also focused on a sizable 2022 budget surplus. Democratic lawmakers have proposed using the $6.5 billion at stake to provide local taxpayers with $200 gas tax rebates to offset the rising fuel cost.
Similar to Montana, some members of the local legislature are resisting, preferring to lower state income taxes instead of making a one-time payment. According to the Associated Press, no decision has yet been made about the plan, reports Yahoo Finance.
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