The objective of supporting the
population is to mitigate the increase in inflation affecting the country's
economy
Although the federal government
has stopped issuing stimulus checks to the population in order to counteract
the crisis generated by the Covid-19 coronavirus pandemic, some states are
about to send a fourth check to households to try to mitigate the effects
caused by inflation in the increase of prices of goods and services derived
from the rise in the cost of oil, as well as the war that prevails on the other
side of the world.
Only some are eligible
Although not everyone may be
eligible, these payments may benefit 87 million residents.
Now, the amounts of money will be
much smaller than those approved in the midst of the pandemic, primarily
as a way to prevent inflation from worsening by putting more money into a
market where supply is already less than demand.
During last February alone,
inflation rose by 7.9% and consequently consumer prices reached a 40-year high.
So far, five state governments
have already approved the proposal to send a new stimulus check
against inflation: Idaho, Georgia, Indiana, New Jersey and New Mexico.
Different types of stimulus
Meanwhile, in California, Hawaii,
Kentucky, Maine, Minnesota and New York, the proposal is under consideration.
Last month, Governor Brad Little
signed a bill to provide $350 million for tax refunds to Idaho residents.
In Georgia some individuals who
have filed their 2021 and 2022 tax returns will receive refunds ranging from
$250 for single filers to $500 for joint filers.
Meanwhile, in Indiana taxpayers
who are compliant with their last year's return may receive a one-time refund of
$125.
Regarding New Jersey, one-time
refunds of up to $500 will be sent to nearly one million eligible households.
And finally, in New Mexico, married couples filing jointly will receive $500.
