Update on New June Stimulus Checks – How to Claim Your $3,000

As COVID-19 wreaked havoc on the global economy, the federal government stepped in with billions of dollars in stimulus checks to aid struggling Americans. Recently, the IRS confirmed that there won’t be a fourth round of federal stimulus checks. However, there are still opportunities for financial relief available. If you’re curious about the current stimulus checks, here’s what you need to know.

Economic Challenges

The announcement that no additional federal stimulus checks will be issued left many Americans worried, especially those still struggling due to rising inflation, healthcare costs, and general living expenses. With the economy slowing down, high interest rates, and global economic uncertainty, stimulus payments of around $3,000 could be a lifeline for many.

New June Stimulus Checks

Although the federal stimulus checks have ended, several alternative financial aid programs are available. Social Security recipients might receive extra payments, taxpayers could get refunds up to $3,011, and families with children continue to benefit from the Child Tax Credit (CTC). Additionally, the IRS has noted that eligible filers will see larger tax refunds, providing further financial assistance.

State Stimulus Programs

While Economic Impact Payments (EIPs) have concluded, and no new federal stimulus payments are expected, it’s crucial to explore other financial strategies. Staying informed about potential initiatives and updates from the IRS can help you navigate these challenging times.

Many states have launched their own stimulus programs, which can be a valuable resource. Always verify information through official state government websites to avoid scams.

Impact of Stimulus Checks

Past stimulus checks have had positive impacts, such as increased consumer spending, personal financial relief, and economic growth. They’ve supported small businesses, boosted demand for goods and services, and provided essential financial assistance.

However, it’s important to note that large-scale stimulus plans can also contribute to inflation if the money supply grows faster than the production of goods and services.

Current Stimulus

Here’s a snapshot of the current stimulus check payment schedules for various states. Ensure you meet eligibility requirements before applying for these payments.

State	Program	Payment Date
California	Fresno Guaranteed Income	June 15th
Michigan	Ann Arbor Guaranteed Income	June 15th
New Mexico	New Mexico Economic Relief Payment	June TBD
New York	Rochester Guaranteed Basic Income	June 15th
Texas	Uplift Harris Guaranteed Income	Paused
Washington	Growing Resilience In Tacoma (GRIT)	June 15th

Income Program in Texas

For those in Texas, the Uplift Harris Guaranteed Income program has been temporarily halted by the Texas Supreme Court due to a lawsuit. Harris County is fighting to continue this program and hopes to provide essential services to its residents.

Staying Informed

In these uncertain times, staying informed is your best defense. Regularly check the IRS website for updates and sign up for email alerts to stay on top of potential future stimulus programs. By doing so, you can be prepared to take advantage of any new opportunities for financial relief that may arise.

FAQs