![]() ![]() 3Ĭolorado follows something called the Taxpayer’s Bill of Rights (TABOR), which requires the state to refund extra tax revenue that’s above its spending limit. 2The state has already started sending out these one-time payments, and it should finish by January 2023. Inflation relief payments from $200 up to $1,050 started going out to 23 million Californians in October either by direct deposit or debit card. After a pitch by Governor Gavin Newsom earlier in the year to fight inflation and gas prices, the state landed on a $17 billion inflation relief package called the Middle Class Tax Refund for California residents. Leave it to California to have an inflation relief check plan that’s massive-just like the state. ![]() 1 Yep, Alaskans get a dividend from the state’s oil revenue. Residents of Alaska got a $662 energy relief payment added on top of the annual Permanent Fund dividend that all Alaskans receive (this year it was $2,622). Remember how some states were dishing out their own state stimulus checks after the pandemic? Well, these states are upping their game and giving out their own inflation relief checks now. Which States Are Giving Out Inflation Stimulus Checks? On top of that, their whole purpose isn’t really to stimulate the economy here but instead to help people cover the high prices of gas and groceries. Since 2020, we’ve all learned a thing or two about stimulus checks, right? But these inflation relief checks are a little different since they’re coming from the state level-not the federal government. With inflation at its highest rate in about 40 years, it’s no surprise states are trying to do something to help battle the insane prices these days. Inflation stimulus checks are relief funds set aside to help people cope with the high costs of groceries, gas and just about everything else (thanks to inflation). So, what’s the deal with inflation stimulus checks, and is your state on the list for dishing one out? Let’s see what all the fuss is about. After all, that might have a little something to do with why we have this killer inflation in the first place. The whole point of these is to, you guessed it, help combat inflation- not to stimulate the economy like those other checks did. " H.R.5140 - Economic Stimulus Act of 2008.Wait a minute-are people really talking about stimulus money again? That’s right, just when you thought they were all a long lost thing of the past, here come inflation stimulus checks. " The Job Impact of the American Recovery and Reinvestment Plan (Archived),". " These 17 States Are Sending Out Stimulus Checks-Is Yours Next?"Ĭhristina Romer and Jared Bernstein. " H.R.1319 - American Rescue Plan Act of 2021."įorbes. 133 - Consolidated Appropriations Act (CAA) 2021."Ĭ. " How Did We Know The Stimulus Was Too Small?"Ĭ. Experience With Fiscal Stimulus: A Historical and Statistical Analysis of U.S. " Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from January 2011 Through March 2011,". " Did the Stimulus Work? A Review of the Nine Best Studies on the Subject."Ĭongressional Budget Office. " The Effectiveness of Fiscal Stimulus Depends on How It Is Delivered." As such, they are meant to spur the economy. They are meant to boost consumer confidence and encourage spending by going to taxpayers who, in turn, would use them to drive revenue at retailers and manufacturers. People can opt to receive a paper check or have their stimulus payment deposited directly into their bank accounts. Stimulus checks are direct payments made by the government to individuals during times of economic distress. government sent Americans three rounds of stimulus payments to provide relief for economic hardships caused by COVID-19. Between March 2020 and March 2021, the U.S. ![]()
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