With inflation running near the highest level in 40 years, Republican and Democratic leaders in some states are offering stimulus payments to residents.
There are three factors that could lead to inflation which include demand-pull inflation, cost-push inflation and built-in inflation.
The checks come as consumers wrestle with sticker shock for the first time in a generation. Although inflation has shown signs of decelerating –on annual basis in October and 0.4% from the previous month – it is still hovering near the highest level in 40 years. Here is a closer look at the states sending checks – and who could qualify for the money. Gov.
Applications for the rebate were due at the end of July. The state started sending payments in late August. Delaware residents who had filed a 2020 state tax return received a one-time payment of $300 earlier this year. Couples filing jointly received $300 apiece. The relief was intended to help Delawareans facing higher prices at the grocery store and gas pump.Gov.
Under the law, individuals who earned less than $200,000 in 2021 will receive a $50 tax rebate. Couples who file jointly and who earned less than $400,000 in 2021 will receive a one-time payment of $100.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NZIER: Inflation and rising interest rates remain key headwinds for the economyIn its latest Quarterly Predictions, The New Zealand Institute of Economic Research (NZIER) said that rising interest rates and high inflation worldwi
Read more »
Cyber Monday sales head for a record as deals lure inflation-battered consumersDays after flocking to stores on Black Friday, consumers focused on Cyber Monday to score more discounts after months of red-hot inflation.
Read more »
EUR/USD recovery needs validation from German Inflation, Fed commentsEUR/USD rises half a percent as buyers approach the 1.0400 threshold heading into Tuesday’s European session. In doing so, the major currency pair pri
Read more »
Fed's Brainard: Even countries that hiked interest rates ahead of U.S. didn't avoid high inflationEven countries that raised rates in 2021 - well before the Fed started to move in 2022 - didn't manage to escape high inflation, Fed Vice Chair Brainard says.
Read more »
Attorney general warns of scammers targeting inflation relief paymentsCalifornia residents should be aware of scammers targeting the state's one-time payments aimed at reducing the effects of inflation, state Attorney General Rob Bonta said Monday.
Read more »