A PROPOSAL to send cash to Indiana taxpayers went ahead this week, but with smaller payments than previously planned.
Indiana lawmakers tentatively agreed to pay a portion of the state’s $6.1 billion surplus.
Gov. Eric Holcomb proposed $225 in rebates earlier this summer before that compromise proposal was reached.
Lawmakers reportedly decided to reduce the amount of the payment to ensure more Hoosiers receive cash.
“This will still give our citizens back over $1 billion,” State Representative Tim Brown said.
The spending package also includes an additional $1 billion in funding for teachers’ pensions.
While the final details of the payment proposal have not yet been approved, the money would be distributed to more than 4 million taxpayers.
Between 300,000 and 900,000 Indiana residents who didn’t file an income tax return last year would also be eligible for the $200 future tax credit, according to the Shelbyville Times.
The proposal is scheduled for a final vote in both the Indiana House of Representatives and Senate today, Friday, August 5.
After the Legislature gives its approval, the plan will go to Governor Holcomb’s desk for final approval.
“I am very pleased to see the House of Representatives moving forward Senate Bill 2, which includes returning $1 billion to Hoosier taxpayers in the form of an automatic tax refund,” Gov. Holcomb said in a statement.
“I look forward to signing it once it hits my desk.”
The state has not yet announced a schedule for the payments.
If approved, the $200 payments will supplement the $125 automatic tax refund that most Indiana taxpayers should have received this year.
About 4.3 million Hoosiers received the $125 payment, about 85% of the state’s adult population.
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.
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/5936099/indiana-taxpayer-refund-checks-proposal/ Millions of Americans are lining up to claim $200 in direct payments thanks to the $1B pot – are you eligible?