Governor Kathy Hochul has ordered the one-time payment of $270 to taxpayers through the Additional New York State Child and Earned Income Tax Payment, which is part of the state’s budget for the fiscal year 2023.
The United States persists in grappling with high inflation numbers. This comes as the OPEC countries have decided to limit their oil production, which could send gasoline prices soaring again later this fall and winter.
The Bureau of Labor Statistics will release the inflation data for September on 13 October. As of August 2021, prices are 8.5 percent across the market in the US.
How are states responding to inflation?
Due to this, several states have approved stimulus checks to help their residents deal with the ravages of the economic crisis.
1.75M New Yorkers will get $270 stimulus checks. Thanks @GovKathyHochul #NewYork #Stimulus works #Inflationrelief https://t.co/UCf37aDxwf
— Rachel (@stargazer5_7) September 12, 2022
These include California, which announced that the first batch of payments ranging from $200 to $1,050 would go out on 7 October 2022. Those for who the California Franchise Tax Board does not have direct deposit information will receive their check in the mail – these payments will take a bit longer.
Who qualifies in California?
One’s annual income is the primary determining factor in the benefit amount sent to those eligible in the Golden State.
Californians earning as much as $75,000 for individuals or $150,000 for joint filers: $350 per taxpayer, plus an additional $350 if they have at least one dependent. A single parent would therefore receive $700, and two-parent families would receive $1,050.
As incomes increase, the amount decreases by $250 per taxpayer if a household brings in as much as $125,000 for individuals or $250,000 for joint filers and to $200 per taxpayer for families making as much as $250,000 for individuals or $500,000 for joint filers. In both tiers, parents would receive an additional $250 or $200, respectively, if they have at least one dependent.
Incomes over these levels are not eligible.
$270 checks in New York: what are the requirements and how to apply
New York is another state that is offering support. Governor Kathy Hochul has ordered the one-time payment of $270 to taxpayers through the Additional New York State Child and Earned Income Tax Payment, which is part of the state’s budget for the fiscal year 2023.
According to official state figures, about 1.75 million New Yorkers of the almost twenty million residents are eligible for the average payment of $270. The California payment program has much higher income limits.
“This program will put money back in the pockets of nearly two million New York families struggling to make ends meet in the face of the pandemic, inflation, and other rising costs,” Hochul said when announcing the program.
Eligible New Yorkers will be those who received the Empire State Child Credit and the Earned Income Tax Credit (EITC) on their 2021 state tax returns.
