Stimulus Update: Petition for a Fourth Stimulus, State Economic Boosts, Golden State Checks & Child Tax Credits
A petition for a fourth stimulus check has been making its way around the internet since last year and as of Sept. 25 hit 2.9 million signatures — and counting. But the reality is, a fourth check isn’t on the way.
See: Stimulus Update: States Give Out Thousands of Bonus $1,000 Checks – Will You Get One?
Find: You Could Get a $198 Rebate From Your Health Insurance Company – Here’s Why
In fact, a recent study suggests the amount of stimulus money poured into the U.S. economy may be part of why the country is currently seeing high levels of inflation. However, Paris-based economic policy group, the Organization for Economic Cooperation and Development, predicts that without the stimulus, inflation would be worse.
With all the rumors about a fourth stimulus, who actually got extra money?
Californians got cash from Gov. Gavin Newsom by way of a budget surplus. The Golden State stimulus checks are being sent this month in amounts up to $1,100.
Other states are providing their own versions of relief. For example, Colorado residents who received an unemployment check between March and October got $375. Over in Maryland, stimulus payments of $300 for individuals who filed for the Earned Income Tax Credit and $500 for families who filed. New Mexico and New York are providing aid to people, including undocumented workers, that did not receive federal stimulus money.
Teachers received some “thank you” money, as well. In Florida, $1,000 checks went out to teachers and other first responders. Georgia, Hawaii, Michigan and Tennessee plan to give either $500 or $1,000 bonuses to teachers by the end of the year.
Parents are getting help paying for their children’s expenses by way of the advance Child Tax Credit payments. This stimulus offers a routinely-used tax deduction ahead of filing for taxes. Depending on how many children a family has — and how old they are — changes how much money is sent out. In September, the Child Tax Credit saw $15 billion in stimulus money reach 35 million families.
Seniors may see a hike in Social Security payments next year. The cost-of-living increase is looking to be the highest bump ever at 6% with increased inflation and gas prices driving the number up. However, that won’t make essential items like food more affordable. The Senior Citizen’s League is petitioning to get seniors their own fourth stimulus check to cover the real cost of living increases.
See: 8.5 Million Tax Refunds Have Yet to Be Sent – What To Do If You Haven’t Received Yours
Find: Didn’t Get Your Child Tax Credit? Here’s How to Track It Down
There is good news for anyone who has so far been ineligible for federal or child tax credit checks. If you have not filed your 2020 taxes, you can still do so and receive the stimulus money. If taxes are filed by these crucial dates in November, one or more checks could end up in your pocket. Find out more here.
If you did file your 2020 taxes, you’ll need to call the IRS and find out what’s happening. That number can be found here.
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Last updated: September 28, 2021
This article originally appeared on GOBankingRates.com: Stimulus Update: Petition for a Fourth Stimulus, State Economic Boosts, Golden State Checks & Child Tax Credits
