Stimulus Update: Your Complete Guide to Which States Are Sending More Stimulus
KEY POINTS
- States received billions of dollars from the federal government early on to help with the pandemic.
- Now, many of those states are staring down leftover funds and making decisions on how to allocate them.
- Any leftover funds not used by Dec. 31, 2024, must be returned to the federal government.
States plan to spend funds sent from the federal government.
During the height of the pandemic, the federal government sent billions of dollars to each state. In theory, it was better to let state legislatures identify and address pandemic-related issues rather than throw more money at problems from the nation's capital. Each state has its own specific issues, and the influx of money from the federal government could go a long way toward tackling those issues.
Funds remain
All these many months later, most (if not all) states are still sitting on federal funds. Some, like Pennsylvania, can't decide whether they want to spread the wealth to their constituents or hold onto the money for a rainy day. Here's the problem with holding onto the funds: Anything not spent before Dec. 31, 2024, must be returned to the federal government's coffers.
Now, states are in a tricky position. Many want to share with state residents, but if they deposit a check into the bank account of every person living in the state, there's a good chance it will feed inflation, making prices rise more. So, these states have tightened the criteria of who will receive a check, attempting to limit it to those with the greatest need.
As of today, these are the states that have either approved legislation or appear to be on the cusp of approving legislation to share the wealth with those in need. Some states are sending cash, while others have come up with other -- different -- ways to put money back into the pocket of state residents.
| STATE | PLAN | WHO WOULD QUALIFY? | HOW MUCH WILL RESIDENTS RECEIVE? | STATUS |
|---|---|---|---|---|
| California | Gas rebate | All Californians with a registered vehicle | $400 per car (up to two vehicles) | Still under debate |
| Georgia | Stimulus in the form of tax rebate | Taxpayers who have filed both 2020 and 2021 tax returns | Single filers: $250, Head of household: $375, Married filing jointly: $500 | Signed by governor |
| Hawaii | Stimulus in the form of tax rebate | Every Hawaii taxpayer | Income under $100,000: $300, Income over $100,000: $100 | Still under debate |
| Idaho | Stimulus in the form of tax rebate. Paid via direct deposit or paper check | Full-time residents who have filed 2020 and 2021 tax returns, or full-time residents who filed a grocery-credit refund return | $75 or 12% of 2020 Idaho state taxes, whichever is more | Signed by governor |
| Indiana | A one-time tax refund. Paid via direct deposit or paper check | Residents who have filed 2021 tax returns. State legislature voted to include those who typically earn too little to file a tax return | $125 | Signed by governor |
| Kansas | Reduction or elimination of state grocery tax | All state residents | Not yet determined | Still under debate |
| Kentucky | Stimulus in the form of one-time rebate | Not yet determined | Up to $500 per eligible Kentuckian, and up to $1,000 per household | Still under debate |
| Maine | Direct relief payments | Full-time residents with a federal AGI of: Single: Less than $100,000, Head of household: Less than $150,000, Married filing jointly: Less than $200,000 | $850 | Signed by governor |
| New Jersey | Property tax rebate | Homeowners earning up to $250,000, Renters earning up to $100,000 | Homeowners: Average $700, Renters: Up to $250 | Still under debate |
| New Mexico | One-time tax rebate. Also, refundable child tax credit up to $175 per child, beginning Jan. 1, 2023 | Single: Less than $75,000, Married filing jointly: Less than $150,000 | Single: $250, Married filing jointly: $500 | Signed by governor |
| New York | Property tax rebate for tax years 2021, 2022, and 2023 | Full-time NY residents who have lived in their home for more than 183 days and earn $250,000 or less. For those over 65, the income limit is $92,000 or less. | An average of $425 for New York City homeowners and $970 outside of New York City. | Signed by governor |
| Pennsylvania | Decrease state gas tax by 1/3 | All residents | Not yet determined | Still under debate |
| Virginia | Reduction or elimination of state grocery tax and/or suspension of state's $0.262 per-gallon gas tax for one year | All residents | Not yet determined | Still under debate |
As the weeks pass, there may be other states that decide to share the wealth, or, as with New York, to offer more than one type of stimulus. Earlier this year, New York funded more than $2 billion into a program called the Excluded Workers Fund. This plan is designed to help undocumented workers who have been ineligible for previous federal stimulus money. Keep an eye on news out of your state to see if you might benefit from some of these leftover state funds.
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