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Millions of Americans are lining up to claim $200 in direct payments thanks to the $1B pot – are you eligible?

A PROPOSAL that will send cash to millions of Americans has been approved, but with smaller payments than previously planned.

The Indiana House on Friday approved a bill that would pay $200 in rebates to those eligible for the state’s bulging budget surplus.

In conjunction with the state's automatic tax refund, Indiana residents could receive up to $325 from the state this year

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In conjunction with the state’s automatic tax refund, Indiana residents could receive up to $325 from the state this year

Under the bill, any Indiana taxpayer who filed a tax return in 2020 or 2021 will receive the refund. No further action is required from their side, as previously reported by The Sun.

In a statement, Indiana Republican Gov. Eric Holcomb said, “This accomplishes what I set out to achieve when I called the General Assembly into a special session to help Hoosiers affected by historically high inflation.

Originally, Holcomb proposed a $225 refund as a result of the state’s record reserves of $6.1 billion.

Republican lawmakers, however, were concerned that out-of-pocket payments would fuel white-hot inflation.

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The compromise involves using about $1 billion for the payouts, and the reduced amount ensures more Hoosiers get a piece of the pot.

The bill passed 93-6, according to WTHR, with multiple Democrats voting in favor of funding.

The deal also includes a tax exemption for an adopted child, a reduction in the state tax on children’s diapers, a cap on gas taxes and an increase in the adoption tax credit, according to IndyStar.

While details on a payout schedule have not yet been released, the money will be distributed to more than 4 million taxpayers.

The taxpayer refund is in addition to the state’s automatic taxpayer refunds, which have been issued since the spring. Qualifying Hoosiers will each receive $125 per IndyStar for this separate payment.

About 4.3 million Hoosiers received the $125 payment, about 85% of the state’s adult population.

For those who have not yet received a $125 refund check, when the bill is signed they will receive a $325 check that would include the newly passed proposed $200 refund, according to Indiana Republican Tim Brown .

According to the Shelbyville Times, between 300,000 and 900,000 Indiana residents who didn’t file an income tax return last year could claim the $200 as a future tax credit.

The spending package also includes an additional $1 billion in funding for teachers’ pensions.

Other states send money

Thousands of Hawaii residents are set to receive a one-time tax refund next month.

Those earning less than $100,000 per year get a $300 rebate.

If your income is above this threshold but below $200,000, you will receive $100.

In addition, families with children could get more money.

For example, a family of four could receive $1,200.

Maine sent out rebate checks worth $850 per person and $1,700 for the average family.

The state distributed most of the payments in June and July.

However, some will take some time to reach mailboxes.

Gov. Janet Mills’ office said checks will be written on a rolling basis through the end of 2022.

Rhode Island Gov. Daniel McKee said families could get up to $750 in child tax credits.

Any Rhode Island taxpayer with dependents under the age of 18 is eligible for the credit and no application is required.

Taxpayers who submitted by August 31 will receive rebates starting in October.

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The Sun spoke to a policy expert who explained whether Americans should expect a future federal stimulus check.

You can find out how to get money in the 45 cities and federal states that offer an unconditional basic income.

https://www.the-sun.com/money/5943433/indiana-tax-refund-approved/ Millions of Americans are lining up to claim $200 in direct payments thanks to the $1B pot – are you eligible?

CELINE CASTRONUOVO

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