While the issuance of stimulus check payments, a measure initially implemented in response to the COVID-19 pandemic, has since ceased, certain states continue to provide financial assistance to their residents in need. This aid often takes various forms such as tax rebates, tax credits, wealth-sharing funds, and state income tax reductions, to name a few.
Some states even provide substantial monthly financial support that can amount to hundreds of dollars. However, the once common Stimulus Checks, which were valued at around $1,200 each, were of substantial benefit to many. Consequently, the question arises whether these sizable checks may be reintroduced in some form.
Potential Alternatives to the Stimulus Check: Ongoing Financial Aid Proposals
To address this complex issue, we must first understand some key facts. The stimulus checks, as they were popularly known, were a temporary measure designed to alleviate the economic distress caused by the global pandemic, and there are currently no plans to reinstate them. Nonetheless, many other forms of financial aid continue to be available, with several even being advocated for permanent status.
In recent times, Representative Ilhan Omar of Minnesota has been vocal in her support of two significant proposals that could potentially aid millions of Americans. The first aims to establish a guaranteed income floor, providing a safety net for those facing economic disparity. The second proposal involves making the Child Tax Credit a permanent feature of our social support system.
Will these be actual stimulus checks? This is the truth behind these proposals
While these proposals aren’t explicitly labeled as “stimulus checks,” they do represent monthly aid designed to prevent vulnerable individuals from falling into abject poverty. Rep. Omar is a proponent of the SUPPORT Act, which would provide monthly payments of $1,200 to qualifying individuals. Throughout her career, she has tirelessly advocated for the needs of underrepresented communities and continues to do so, viewing the passage of these proposals as a significant victory.
However, it’s worth noting that Rep. Omar isn’t the only legislator backing these initiatives. Despite this, these proposals currently lack the majority support required for their implementation. Nevertheless, the conversation around these forms of financial aid continues, echoing the broader societal discourse around economic security and social equity.
Remaining stimulus checks still available: How to claim your money
If you are an American taxpayer, you might still be entitled to receive a stimulus check ranging from $600 to $1,400. The tax deadline may have passed, but don’t you worry, as you can still file previous years’ returns and claim any past owed money.
To receive the maximum stimulus payment of $1,400, your income must not exceed $75,000 if you’re an individual taxpayer or $150,000 for couples filing jointly. However, if your income surpasses these thresholds, the stimulus amount gradually decreases. Individuals with an income of $80,000 or above and couples with an income of $160,000 or more will no longer be eligible for the stimulus payment.
If you have not received your stimulus check yet, there’s still hope. The Government Accountability Office has estimated that between 9 and 10 million Americans are still owed stimulus checks. By filing your previous years’ tax returns, you can claim any owed money and ensure you get the financial support you deserve.