Inflation is leading to increased costs across the board.
Would another stimulus check help Americans deal with the higher prices?
Gas prices: Will the Biden Administration send out gas cards?
Could another stimulus help with inflation?
Americans are struggling and many need help to cover the costs of basic needs like groceries and gas. Some people think that another stimulus is the answer, but others worry that it could increase inflation even further.
Some experts believe that another round of direct stimulus payments could really help families struggling with the costs of inflation. The U.S. Department of Health and Human Services (HHS) found that stimulus payments kept 11 million Americans from falling into poverty over the last two years.
However, others argue that stimulus checks and the other trillions of dollars pumped into the economy during the pandemic has caused at least 3% of the inflation we are feeling today.
Despite millions of signatures on a petition for another stimulus asking for $2,000 for adults and $1,000 for children, it is looking bleak. Congress has not given indication that there may be another stimulus.
Since Congress isn’t providing a federal stimulus, some states are starting to distribute their own.
Which states are distributing stimulus payments?
- California- residents will receive up to $400 for each car they own, up to two vehicles
- Hawaii- issuing $300 to residents who make $100,000 or less annually and $100 to those who earn more than $100,000
- Colorado- $400 to taxpayers by September
- Delaware- $300 for taxpayers
- Georgia- single filers will receive $250, heads of households will receive $375, and joint filers will receive $500
Past payments:
- Idaho – $75 rebate payments to full time residents in March
- Indiana – Received $125 payments last month if they filed 2021 taxes
- Maine – $850 payments to residents with a federal adjusted gross income of less than $100,000. Payments began on June 1
- Minnesota – Some frontline workers received a one-time payment of $750
- New Jersey – $500 payments to people who paid taxes using federal ID number rather than Social Security number
- New Mexico – multiple rebates, including $250 for taxpayers earning under $75,000 annually and a $500 rebate for all taxpayers
Stimulus payments worth $2,000 to $4,000 going to 500,000 Americans
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