With little chance of a fourth stimulus check, it is up to the states to pick up from where the federal administration left off and support residents as they struggle to cope with the lingering after-effects of the pandemic on the US economy.
Coloradans can expect a $400 stimulus check this summer in the form of a refund in what Governor Jared Polis and state legislators have announced as a measure of the efforts of the state’s Democratic governor to come up with immediate measures of relief for its residents.
Prices continue to spiral out of control with soaring inflation that reached a 40-year high of 8.5% in March and continues to stay above the 8% mark. But critics have flayed the decision as a suspicious ruse to bring in voters during the election year.
Over 3.1M residents of the state are eligible for this rebate. They are those who have submitted their income tax returns for 2021 by May 31 of this year. The stimulus check has been set at $400 for individual tax filers and doubles that amount for married couples who file jointly.
The funding for the stimulus checks to be paid to residents of Colorado isn’t new. The state is instead obligated to give back the amount as per the Coloradan Taxpayer Bill of Rights. The bill was narrowly passed in 1992 by voters and the TABOR requires that the public’s approval must be taken before any increase in taxes is approved.
At the core, TABOR aims to rein in the growth of government involvement to increase the population and also what the annual Consumer Price Index of the state was for the year before. The Denver-Boulder CPI is a measure of the state’s inflation.
Practically it means that the government could expand only through population increase and inflation. That would basically cover all expenses for high spending such as Medicaid, schools, higher education, and corrections for each succeeding year with a moderate increase in expenses.
Present laws stipulate that taxpayers will receive their refund under TABOR a year later during spring next year. But Governor Polis aims to alter the present schedule and send out cash to tax filers in August 2022 instead. There are 2 months to go before the elections in November and weeks before campaign ads begin reaching voters through social media ads, phones, computer screens, TV, and mailboxes.
Governor Jared Polis said in a release that residents of Colorado are being forced to pay more for regular necessities like gasoline, rent, and groceries for no reason. He said that in place of the state government holding on to cash that has been earned by the residents of the state, the administration wants to return the maximum amount possible to the people.
Colorado Governor’s Message Supported By Republicans In House
The Governor said that the state administration aims to do it as quickly as possible and provide residents with immediate relief stimulus check support and empower them to freely spend the amount of the stimulus check. Alec Garnett, the House Speaker, and Steve Fenberg, the Senate President, echoed the message.
The Senate President said that the residents of Colorado are struggling against a high inflation rate and an astronomical increase in living costs. The Boulder Democrat said that residents are feeling the pain of inflation.
He said that they have been able to outspread the support necessary for individuals and families to survive through direct taxpayer stimulus check relief. He said that the administration was helping the residents cope with their budgets by giving them money directly. He said that the state is keeping up to its promise to save money for the residents of Colorado.
The Colorado Bill is to be initiated by Senator Nick Hinrichsen, a Democrat from Pueblo. His seat in the Senate is the most unsteady one for the ruling party in the upcoming elections in November.
Republicans Have Accused The Ruling Democratic Government Of Using Taxpayer Money To Win The Election
Republican lawmakers have outrightly accused the ruling Democrats of using money and power to win the election this year. Republican Senator Jerry Sonnenberg of Sterling said that he was buying the election using taxpayer dollars. He is among the sponsors of a ballot in November that aims to reduce the overall tax rate of the state.
Chris Holbert, the minority leader in the Senate, and representing Douglas County, added that it should be noted that the elections are due this year. He pointed out that refunds under TABOR are normally measured only in 10s of dollars. Instead, Governor Polis and other ruling party leaders want to drastically increase the spending and give a $400 stimulus check to eligible taxpayers.
He said that the Republican camp was certain that people continue to be hurt and are concerned about the rising cost of basics in the state of Colorado. Residents, he said, were also disturbed by the lack of public safety and wanted better educational facilities. He said he failed to understand the logic behind the $400 stimulus check, saying that the worth of a vote by the residents of Colorado was way more worthwhile than a mere $400.
The minority leader of the House, Hugh McKean stated that Governor Polis and the Democratic camp can reset their efforts to gift the residents of Colorado with their money in whatever way they pick during an election year. The Loveland Republican pointed out that this precious money was not a refund or a gift, but belonged to the residents of the state of Colorado.
Governor Polis Hits Back At Republicans For Opposing The State Stimulus Check
The spokesperson for the Governor, Conor Cahill said that the claim of the GOP members exposed their cynical views and intellectual dishonesty. He said that it would be more shameful if the government were to hold on to the hard-earned money that was in the possession of the Colorado administration.
He said that it was more important for the stimulus check to reach them when they needed it the most as inflation made people make drastic decisions on their everyday spending. The spokesperson said that the Governor believes that holding onto the funds would hurt the residents of the state.
It is important at the money is immediately given back to them and not sit in the bank accounts of the state government.
