Since the onset of the COVID-19 pandemic, Americans have received substantial financial relief from the government in response to the economic downturn caused by lockdown measures. Congress introduced multiple rounds of economic impact payments, which helped alleviate the financial burdens many Americans faced during the crisis. According to the U.S. Government Pandemic Response Accountability Committee (PRAC), over 476 million payments totaling $814 billion were distributed to households between 2020 and 2021.
Looking ahead to 2025, three states are preparing to send out additional stimulus checks to their residents in an effort to combat persistent inflation and higher living costs.
New York
Governor Kathy Hochul has proposed New York State’s first-ever Inflation Refund, which would provide about $3 billion in direct payments to roughly 8.6 million taxpayers in 2025. Hochul explained that the state had generated significant revenue through sales taxes due to inflation and that it was time to return those funds to middle-class families struggling with the high cost of living.
If approved, single taxpayers earning up to $150,000 annually would receive $300, while joint filers earning up to $300,000 annually would receive $500. The payments are expected to begin in the fall, contingent upon legislative approval.
California
California is also preparing to issue a new round of stimulus checks, with payments up to $725 available depending on household income and size. The checks are designed to assist residents impacted by ongoing inflation.
To qualify for the payment, residents must meet several criteria:
- Income Limits: Beneficiaries must fall within specific income thresholds.
- Residency: Applicants must be legal residents of California and have filed a recent state tax return.
- Eligibility: Priority will be given to those who did not receive aid during previous rounds of the Golden State Stimulus program.
Payments will be issued via direct deposit or physical check, depending on the recipient’s bank information on file.
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Colorado
Colorado is poised to send out additional stimulus checks in 2025 due to a fiscal surplus of $1.5 billion under the state’s Taxpayer’s Bill of Rights (TABOR). Single taxpayers in Colorado will be eligible for payments up to $800, while married couples filing jointly can receive up to $1,600.
These stimulus checks are designed to provide financial relief and stimulate the local economy by increasing consumer spending. To qualify for the TABOR refund, individuals must meet the following requirements:
- Tax Filing: Must have filed a 2023 DR 0104 tax return by April 15, 2024.
- Residency: Must have lived in Colorado for over a year.
- Age and Residence: Must be 18 years or older and have lived in Colorado for at least 183 days during the fiscal year.
- Legal Status: Must not have outstanding tax debts or criminal convictions resulting in more than 180 days of imprisonment during the fiscal year.
The payments will be issued via direct deposit, paper check, or prepaid debit card, depending on the recipient’s preferences.
These state-level stimulus initiatives are part of an ongoing effort to help residents cope with the financial challenges stemming from inflation and the aftermath of the pandemic.
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Been Trump could have got triple that. if they were selling energy that the stopped and other stupid spending last 4 years I’m talking but we all know how bad went to just about gone. Don’t need any response from either side thank you.