2023 Stimulus Check Proposals Gain Momentum in 7 States
As the COVID-19 pandemic wreaked havoc on the global economy in 2020, the federal government introduced much-needed relief in the form of stimulus checks to assist struggling Americans.
While the recurring economic stimulus payments brought some respite during uncertain times, recent announcements suggest that the federal government is not planning to issue additional stimulus checks in the near future.
However, several states have stepped up to fill the void and plan to send stimulus checks to their residents in 2023.
- California: The Middle Class Tax Refunds, now referred to as California stimulus payments, aim to aid citizens who filed their 2020 California state taxes by October 15, 2021, and resided in California for at least six months in 2020. Qualifying residents, meeting specific income and filing status criteria, can expect to receive amounts ranging from $200 to $1,050.
- Idaho: Residents of Idaho have the opportunity to receive rebates based on complex calculations, with the payments being issued throughout 2023. The rebates apply to full-year residents who filed Idaho state income taxes for both 2020 and 2021 by the end of 2022, offering amounts based on tax liability and family size.
- Maine: Maine’s new Winter Energy Relief Payment targets residents who lived in the state full-time and filed a tax return for 2021 before October 31, 2022. Those eligible, based on specified federal adjusted gross income (AGI) limits, could receive payments up to $900 for joint filers and $450 for single filers.
- New Jersey: Under the ANCHOR Tax Relief Program, New Jersey plans to send rebates to eligible residents who owned homes in 2019 and reported total incomes of $150,000 or less in 2023. Homeowners who make between $150,001 and $250,000 per year can anticipate payments of $1,000, while qualified renters may be eligible for a $450 rebate.
- New Mexico: New Mexico offers a first and second rebate for qualifying residents. Eligibility for the first stimulus payment is contingent on filing a 2021 New Mexico state tax return by May 31, 2023, while the second stimulus is part of a bill set to be passed in March.
- Pennsylvania: Pennsylvania residents who meet certain age and income criteria can apply for a stimulus payment through the “Property Tax/Rent Rebate” program. The eligible amount ranges from $250 to $975 for qualifying homeowners, renters, and certain senior citizens.
- South Carolina: South Carolina rebates are delivered in two phases, based on the date of tax return filing in 2021. Those who filed by October 17, 2022, should have already received their payments, while those who filed before February 15, 2023, can expect checks no later than March 31, 2023.
Related articles: FDIC Begins $18.5 Billion Signature Bank Loan Sale
2023 Stimulus Checks Offered as Federal Relief Remains Uncertain
As the federal government’s stance on stimulus checks remains uncertain, these state-level initiatives provide much-needed relief to residents facing financial hardships.
While each state’s program has its own eligibility criteria and payment amounts, they collectively offer hope to individuals and families still grappling with the economic repercussions of the pandemic.
Related articles: Putin Affirms Russia’s Willingness For Ukraine Talks
Source: Go Banking Rates
