A woman looking at bills
Source: Getty

Inflation Relief Checks Are Coming, Payment Amounts Vary by State

Ruchi Gupta - Author
By

Jul. 12 2022, Published 8:33 a.m. ET

The list of states giving inflation relief checks continues to expand. It means if you’re in the right place, financial assistance might be coming your way to help you deal with the sky-high gas and food prices.

Article continues below advertisement

Many states have leftover money after funding the budgets and some are sending the funds back to residents. The record-high inflation level has squeezed household budgets, putting many families in tough financial situations.

States with a budget surplus are stepping in to help residents cope by giving them free money to spend on food, gas, and other expenditures. Apart from sending checks to the people, some states have also moved to exempt certain items from the tax.

Article continues below advertisement
engin akyurt xfjltyu va unsplash
Source: unsplash

These states are giving inflation relief checks.

At least 20 states have come up with or proposed inflation relief programs for residents. Most of these states have fashioned their assistance as tax rebates, with amounts ranging from as little as $50 to $850 per taxpayer. Here's the list of states offering some of the largest inflation relief checks:

  • Maine

  • Colorado

  • California

  • Georgia

  • Hawaii

  • Delaware

Article continues below advertisement

Maine is giving $850 in direct payments.

Maine is sending residents $850 each in direct checks in 2022. The inflation relief is aimed at 858,000 residents and the state plans to spend almost $730 million on the program. For singles, their income needs to be less than $100,000 for them to be eligible for the payment. For a family, the income should be less than $200,000, and the total payment works out to $1,700. You’re free to spend the money on anything from groceries to gas and other household expenses.

Colorado is offering residents $750 in tax rebates.

Colorado residents can expect to relief up to $750 each or $1,500 for a family by September 2022 in tax rebates. You need to have filed your 2021 tax returns to be eligible for the payment.

Article continues below advertisement

California is giving residents $350 inflation relief checks.

The state plans to spend about $17 billion of its budget surplus on various relief programs. The package includes $9.5 billion for relief checks in the range of $200–$350. The program is designed so that those earning the least get the most support. Therefore, a family making $150,000 with at least one child can earn up to $1,050. The program targets single filers with earnings that don’t exceed $75,000 and families whose income doesn’t exceed $500,000.

Article continues below advertisement

Delaware is giving $300 in direct payments.

The state is giving residents $300 each in stimulus checks. Therefore, a family of two adults receives $600. Delaware plans to spend $230 million on the relief program that seeks to help residents cope with the financial challenges caused by inflation.

Georgia will pay $250 in relief checks.

Georgian taxpayers are getting $250 in tax rebates for single filers and $500 for couples. You need to have filed tax returns for both 2020 and 2021 to be eligible for the relief check.

Article continues below advertisement

Hawaii is offering residents $100 in tax rebates.

The state is giving residents $100 each, with the same amount for every dependent. Therefore, a family of four will walk away with $400 to help the household manage the high cost of everything from food to fuel. The relief program is expected to inject $110 million back into the state’s economy.

Finally, the state relief checks may not only help some people put food on the stable, but also cope with debt. For example, many people have student loan debt to deal with despite the struggle with the high cost of living.

Advertisement

Latest Personal Finance News and Updates

    © Copyright 2022 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.