Home New mexico tax Will New York issue a fourth stimulus check?

Will New York issue a fourth stimulus check?

12
0

STATEN ISLAND, NY – The US bailout has allocated more than $ 200 billion to states for economic recovery from the coronavirus (COVID-19) pandemic. And some states are allocating some of the money to a fourth stimulus check for its residents.

Some states – including California, Florida, Colorado, Maryland, New Mexico, Georgia, Michigan, Tennessee, and Texas – have committed to paying their residents some form of stimulus payment funded by the State, according to a report published in Yahoo Finance.

Some of these states, including Michigan, Georgia, and Florida, use federal stimulus funds to make direct payments to their teachers.

But will New York follow suit?

New Jersey, New York and Pennsylvania are currently not among the states offering stimulus bonuses at this time, according to NJ.com, the sister site of SIlive.com.

PROPOSED FEDERAL LEGISLATION

However, proposed federal legislation could send monthly stimulus payments to Americans and their dependents.

Introduced by Representative Ilhan Omar (D-Minnesota), the “Sending Unconditional Payments to People Overcoming Resistance to Triumph” or SUPPORT program, could potentially send payments of up to $ 1,200 for adults and $ 600 for adults. children.

It would first create a $ 2.5 billion grant program that would then fund pilot guaranteed income programs across the country. Then the law would provide for monthly checks.

Similar to previous stimulus checks sent out by the federal government, there would be income limits: people earning $ 75,000 or less per year would receive $ 1,200, heads of household with income up to $ 112,500 would receive also $ 1,200.

Minor children would receive $ 600.

“For too long, we have favored endless growth when millions of people are homeless, starving or without healthcare,” Omar said in a statement. “The pandemic has exposed these inequalities. As a nation, we have the capacity to ensure that everyone has their basic needs such as food, shelter and health care. “

A petition circulating on the Internet for a year has called on the federal government to send monthly checks to Americans to ease the difficulties faced by the coronavirus pandemic (COVID-19). It has received more than 2.5 million signatures to date.

Omar’s bill has received the support of several members of Congress, but it is not known if and when it will be put to a vote.

The $ 1.9 trillion US bailout passed in March included the Child Tax Credit, which makes monthly payments that, over the course of the year, will total $ 3,600 for every child under the age of 6. and $ 3,000 for each child aged 6 to 17. payments were made on July 15.

The monthly payments will represent half of the credit due to families; the other half will be claimed on their 2021 tax return.

FOLLOW TRACEY PORPORA ON FACEBOOK and TWITTER



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here