Stimulus Check Update: Up to $1050 Payments in California, $1500 in Colorado Approved; New Mexico, Illinois, More States Giving Out Payments Amid Inflation

A stimulus check update can be seen in a number of states as officials release a new stimulus package to ease U.S. inflation and its impacts on the residents.

Newsweek reported that the stimulus check update has been announced after the U.S. faced its largest inflation rate since 1981 in a period of 12 months. Economic experts warned that the nation could be heading into a recession in the coming months.

The last economic downturn that the United has experienced started in December 2007 and lasted until June 2009. The 2007-2009 U.S. recession was considered to be the longest one since World War II.

States that have promised to provide stimulus checks for their residents with varying amounts include Delaware, Georgia, Idaho, Illinois, Indiana, Maine, New Jersey, South, Carolina, and Virginia, among others.

Stimulus Check Update Colorado

Colorado has announced a tax rebate for its residents, with Gov. Jared Polis signing a legislation that will provide a tax rebate of $750 for individual filers and $1,500 for joint filers this summer, according to the state's Department of Revenue's statement.

The statement noted that if residents have already filed their income tax return, they are scheduled to receive their Colorado Cash Back check by September 30.

Meanwhile, Colorado's Department of Revenue noted that for residents who received an extended filing deadline of Oct. 17, 2022, their tax rebate will be scheduled for release on Jan. 31, 2023.

Colorado House Democratic Communications Director Jarrett Freedman said that they are certain that the rebate checks will increase.

Colorado tax rebates were reported to be initially worth $500 for single filers and $1,000 for joint filers, according to a National Interest report.

The sponsor of the bill, Rep. Tony Exum, said that the state's economic recovery signifies that they can send even more money back to taxpayers to help them afford the cost of living and necessities.

Stimulus Check Update California

Weeks ago, the state of California announced that around 23 million residents will receive "inflation relief" checks.

Gov. Gavin Newsom signed a $308 billion state budget, covering the stimulus checks that will be provided to residents. Residents are seen to receive stimulus checks of up to $1,050, as reported by CBS News.

The stimulus checks in California are part of a $17 billion relief package. California's relief package will also suspend the sales tax on diesel fuel and provide help to people pay rent and utility bills.

The stimulus check in California will be coming from the state's $97 billion budget surplus.

Stimulus Check Update New Mexico

New Mexico is also set to release stimulus checks amid inflation, with individual taxpayers scheduled to receive $250 and couples who file jointly set to receive $500.

U.S. News reported that individual taxpayers can receive up to $750 while couples can receive as much as $1,500 during three installments between June and August.

A newly approved annual per-child tax credit will also be issued worth up to $175 based on household income.

More than 200,000 taxpayers in New Mexico are set to receive their stimulus checks in the mail in the coming weeks.

This article is owned by Latin Post.

Written by: Mary Webber

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