In July, many residents of the United States will have the opportunity to receive new stimulus checks. These monthly payments, which can be as much as $500, are contingent upon households meeting specific qualifying conditions set by their state.
To be eligible for these monthly payments, households must adhere to certain criteria defined by their respective states. These payments aim to provide much-needed financial relief to eligible citizens.
COVID-19 caused a big financial crisis. It left many poor households struggling with higher prices and little healthcare. In response, the federal government introduced Economic Impact Payments (EIPs) to support millions of Americans in their recovery.
However, these first payments were too small. Many individuals are still struggling to regain their financial footing. Recognizing the ongoing challenges, local and state governments have stepped up to provide more sustained assistance. Instead of offering a one-time payment, these new stimulus payments are designed to offer longer-term support.
The primary goals of these stimulus payments are to:
- Help low-income households manage healthcare costs
- Alleviate the impact of excessive inflation
These efforts aim to ensure that struggling families receive continuous support as they navigate these challenging economic times.
In the evolving landscape of economic support, various incentives are being implemented across the United States. Some of these initiatives are derived from budget surpluses, while others are based on past tax returns or income. One such approach, which is gaining traction, is the guaranteed basic income (GBI), also known as a stimulus payment.
How do these new stimulus payments differ from the initial Economic Impact Payments (EIPs) introduced by the federal government?
The third EIP is an early payment of the 2021 Recovery Rebate Credit. The first two were for the 2020 Credit. Those missing prior payments can claim the 2020 Credit by filing a 2020 tax return.
The third EIP is larger for most. Singles get up to $1,400, and couples up to $2,800. Each dependent adds $1,400. The first two EIPs were smaller. They included only $500-$600 for children under 17.
The third EIP doesn’t penalize those with an ITIN. The first two did. An ITIN could disqualify U.S. citizens from payments.
Most will get the third EIP automatically. The IRS will use their 2019 or 2020 tax info or federal benefits. The first two required filing a tax return or using the IRS Non-Filers tool.
States Offering $500 Stimulus Checks
The concept of guaranteed basic income has been progressively adopted as a strategy to combat poverty in the United States. Since 2019, over 50 cities have experimented with the GBI model, offering low-income participants a monthly stipend ranging from $100 to $1,000 for a designated period, without any conditions attached. Given the current array of active stimulus payments, we have compiled a comprehensive list of states set to distribute $500 stimulus checks. This allows you to easily identify upcoming payments in your state.
California
Mountain View: Elevate MV Program
The Elevate MV program in Mountain View is designed to assist approximately 166 low-income parents by providing them with $500 in monthly stimulus payments. This program will distribute payments from December 2022 through December 2024.
Sonoma County: Pathway to Income Equity Program
In Sonoma County, the Pathway to Income Equity program will benefit about 305 low-income families with $500 in monthly stimulus checks. The program will send payments from January 2023 through January 2025, helping families achieve greater financial stability.
Long Beach
The Long Beach Pledge Program will provide $500 per month in stimulus checks to approximately 200 low-income households with children.
Michigan
Ann Arbor: Guaranteed Income to Grow Ann Arbor
Ann Arbor is launching the Guaranteed Income to Grow Ann Arbor program, which targets approximately 100 low-income entrepreneurs. These individuals will receive $528 per month, with payments scheduled from January 2024 through December 2025. This initiative aims to support budding entrepreneurs in their journey to success.
Flint: Rx Kids Program
The Rx Kids program in Flint is set to provide a substantial boost to about 1,200 new and expectant mothers. Initially, participants will receive a $1,500 lump sum, followed by monthly payments of $500. This program is designed to offer continuous support to mothers as they navigate the early stages of parenthood.
These programs are a testament to the commitment of various regions to uplift their communities and provide essential financial assistance. If you or someone you know could benefit from these initiatives, be sure to stay informed and apply when the time comes.
Discover the various programs across the United States that are designed to provide financial support to low-income families. These initiatives are crucial in helping individuals achieve their educational and economic goals. Here’s a closer look at some of the key programs offering monthly payments to those in need.
New Mexico
Santa Fe
The City of Santa Fe’s Learn, Earn, Achieve program is making a significant impact. This initiative offers a monthly payment of $400 to 98 young, low-income parents who are enrolled in a certificate or degree program at Santa Fe Community College. Payments will be sent from January 2024 through spring 2025.
New York
Santa Fe
The Bridge Project is a lifeline for many low-income mothers in New York. This program provides stimulus checks of up to $1,000 per month to 1,200 low-income mothers. It began making payments in June 2021 and is continuing to support families.
Washington
Tacoma
The Growing Resilience in Tacoma program is focused on aiding low-income households by offering monthly payments of up to $500. This program will continue to deliver stimulus checks through next year, with payments extending until June 2025.
Finally, remember that you can search online or through government websites to learn more about stimulus checks and their requirements or eligibility in your state for this year or future years.