Americans have been struggling with historically high inflation for quite some time now. Because of that, the price of petrol, food, and utilities has all gone up. When rising rents, skyrocketing automobile expenses, and unaffordable housing prices are factored in, it’s easy to see why so many people are in need of financial assistance.
The bad news is that government stimulus check payments won’t be arriving to provide that assistance. The good news, meanwhile, is that several governments are finding themselves with additional money in their budgets. What this implies is that people living in those states may anticipate a windfall, the size of which will vary from state to state.
Even if handing out state-level stimulus check would help a lot of cash-strapped Americans who don’t have much savings, it might not be the best approach.
Americans Want The Stimulus Check Money
It’s simple to make the case that the state, rather than the people, should spend any surplus funds from operations budgets. But the fact is that inflationary pressures are now quite high. Wages aren’t rising fast enough to keep up with the rising expense of living.
In addition, many individuals drained their savings accounts in the early stages of the epidemic, when unemployment rates skyrocketed and many people couldn’t safely return to work because of COVID-related anxieties. As a result, many individuals today are in danger of ruining their finances for years to come due to the rising cost of living. Therefore, it is a true lifeline to provide such individuals with state refunds.
Since legislators were unable to extend the increased Child Tax Credit beyond 2021, many families are struggling to make ends meet. The maximum amount of the credit increased in 2021, and the first half of the credit was distributed in four equal payments in the months of July through December. Many families benefited from the monthly installments of stimulus checks, and at this time, a state rebate check is the most they can hope to get as a replacement.
