In July, many people in the U.S. will have a chance to get new stimulus checks. These monthly payments can be as much as $500. To receive these payments, households must meet specific requirements set by their state. The goal is to offer financial help to those who need it most.
Eligibility for Payments
To qualify for these monthly payments, households must follow rules set by their state. These rules often look at how much money a family makes, how many people are in the family, and other financial details. The payments are meant to help those who are most affected by money problems, especially families with low incomes.
Background Information
The COVID-19 pandemic caused many people to face financial difficulties, with higher prices and less access to healthcare. To help, the federal government introduced Economic Impact Payments (EIPs). These payments were meant to support people during tough times.
But the initial payments were often too small, and many people still struggled. To address this, local and state governments started offering more ongoing help, moving from one-time payments to regular support.
Goals of New Payments
The main goals of these new stimulus payments are:
- Assist low-income families with healthcare costs.
- Reduce the effects of high inflation.
These payments aim to give ongoing support to families dealing with tough economic conditions.
How New Payments Are Different
The third EIP was a larger payment compared to the first two. Singles could get up to $1,400, couples up to $2,800, and each dependent added $1,400. The first two EIPs were smaller, giving $500-$600 for children under 17. The third EIP did not penalize those with an ITIN, making more people eligible.
Most people got the third EIP automatically using their 2019 or 2020 tax info. The first two EIPs needed a tax return or the IRS Non-Filers tool. The new state-level payments offer monthly support, unlike the one-time federal payments.
$500 Stimulus Checks in Different States
Some states have adopted the guaranteed basic income (GBI) model, giving monthly payments to low-income people without conditions. Here’s a look at some programs:
California
- Mountain View: Elevate MV Program – $500 monthly payments for 166 low-income parents from December 2022 to December 2024.
- Sonoma County: Pathway to Income Equity Program – $500 monthly payments for 305 low-income families from January 2023 to January 2025.
- Long Beach: Long Beach Pledge Program – $500 monthly payments for 200 low-income households with children.
Michigan
- Ann Arbor: Guaranteed Income to Grow Ann Arbor – $528 monthly payments for 100 low-income entrepreneurs from January 2024 to December 2025.
- Flint: Rx Kids Program – $1,500 lump sum and $500 monthly payments for 1,200 new and expectant mothers.
New Mexico
- Santa Fe: Learn, Earn, Achieve Program – $400 monthly payments for 98 young, low-income parents at Santa Fe Community College from January 2024 through spring 2025.
New York
- The Bridge Project – Up to $1,000 monthly payments for 1,200 low-income mothers, ongoing since June 2021.
Washington
- Tacoma: Growing Resilience in Tacoma Program – $500 monthly payments for low-income households, continuing through June 2025.
These programs show how different regions are working to help their communities with essential financial support. If you think you or someone you know might benefit from these programs, make sure to stay informed and apply if you qualify.
The new stimulus payments are a significant step in providing ongoing financial support to those who need it most. By understanding the eligibility criteria and available programs, individuals and families can take advantage of these opportunities to improve their financial situation.
Who qualifies for the new $500 stimulus checks?
Eligibility depends on state-specific criteria, often including income levels and family size.
When will the $500 stimulus payments start?
The payments are scheduled to begin in July, with different states having varying start dates.
How do these payments differ from earlier Economic Impact Payments (EIPs)?
The new payments offer monthly support and are more sustained compared to the one-time EIPs.
Which states have $500 stimulus check programs?
States like California, Michigan, New Mexico, New York, and Washington have programs providing $500 monthly payments.
How can I apply for these state-level stimulus payments?
Check with your state’s program guidelines for application procedures and eligibility requirements.