As discussions about federal stimulus checks fade, some states have taken matters into their own hands by offering financial relief to needy residents. While there isn’t a fourth federal stimulus check, various states have implemented programs that provide up to $500 in monthly payments to help residents cope with ongoing economic challenges. This scheme is overseen by the Internal Revenue Service (IRS), and it is available for low-income earners and families.
California: Fresno County’s guaranteed income program
In California, Fresno County has launched a Guaranteed Income Program that provides $500 monthly payments to 150 residents. This initiative aims to help low-income individuals meet their daily needs. The program commenced in August 2024 and will continue for one year.
Michigan: Ann Arbor’s small business owners support
Ann Arbor, Michigan, has initiated a similar Guaranteed Income Program specifically targeting small business owners. A total of 100 residents will receive $528 per month for two years, beginning in August 2024. This initiative is part of a broader effort to support local economic growth and sustain small businesses.
New York: unconditional payments to eligible residents
New York also offers financial relief through a $500 stimulus payment to 351 eligible residents. These payments come with no strings attached, allowing recipients to use the funds as they see fit. The program is designed to support individuals facing financial hardships without imposing work requirements or usage restrictions.
Washington: Tacoma’s growing resilience initiative
Washington State has implemented the Growing Resilience in Tacoma (GRIT) program, which provides $500 monthly payments to 175 residents for a year. This program is part of a broader effort to enhance economic resilience among low-income families in Tacoma.
New Mexico: tax refunds for single and joint filers
New Mexico’s approach to economic relief involves tax refunds rather than direct stimulus payments. The state’s Tax and Revenue Department is issuing refunds of $500 to single filers and $1,000 to married couples filing jointly. This program is designed to provide financial support to those who need it most as they navigate the challenges of the current economic climate.
Why state-level stimulus?
These state-level initiatives are part of a broader trend toward localized economic relief efforts. While federal stimulus checks provided significant support during the peak of the COVID-19 pandemic, ongoing economic challenges have prompted states to take additional action. These programs are often targeted at specific groups, such as low-income residents or small business owners, to address localized needs more effectively.
