Inflation in the United States has reached levels not seen in more than 40 years this year. Following the coronavirus lockdowns and Russia's invasion of Ukraine, the cost of nearly everything has increased significantly, including gas, food, and rent.
As locals continue to feel the squeeze, a number of U.S. states have introduced legislation to assist those impacted by inflation by offering some sort of financial relief.
However, if you live in one of the following states, you may be eligible for reimbursement in some way.
California Inflation Stimulus Checks
Californians may be eligible for up to 1,050 dollars in stimulus payments; households making less than $150,000 per year will be given the entire 1,050 dollars.
Illinois Inflation Stimulus Checks
People who make under 200,000 dollars a year (or 400,000 for couples) are eligible to receive 50 dollars each. Additionally, each dependant is qualified for a payment of $100, with a maximum of $400 per household.
Massachusettes Inflation Stimulus Checks
A payment of $250 dollars is due to people who make between $38,000 and $100,000 annually. If married couples make less than 150,000 combined dollars, they will each receive $500.
New Jersey Inflation Stimulus Checks
The State of New Jersey has committed to distributing 500-dollar payments to married couples earning under $150,000 or to individuals earning under $75,000 annually.
Beginning next month, qualified Alaskans will begin receiving the huge $3,200 direct payments. The Alaska Legislature passed a budget early this year that includes $3,200 payments to qualified individuals before the end of the year.
According to Alaska Public Media, the first wave of direct payments will begin to appear in bank accounts on September 20. Then, in early October, paper cheques will be delivered. According to the publication, the Alaska state House rejected a $5,500 compensation approved by the state Senate. Some MPs voted against the $3,850 arrangement suggested by the two chambers' negotiators, resulting in the $3,200 total.
Inflation, rising energy expenses, and other concerns that were putting a strain on Alaskans' normal budgets were mentioned as reasons for the need for greater payments. The amount of each distribution varies greatly depending on the stock market and a variety of other factors, and it is based on a five-year average of the Permanent Fund's performance.
The annual inflation rate in the U.S. slowed more than expected to 8.5% in July of 2022 from an over 40-year high of 9.1% hit in June.
