tThe year 2022 has been marred by a rapid increase in inflation with United State Citizens, especially those from low-income families, are struggling financially in the face of the cost of living crisis.
After two years of coronavirus-enforced lockdowns, the US economy has been hit with several supply chain shortages that eventually drive up the prices of everyday items including groceries. This shortage compounded the sanctions imposed on Russian oil imports after its invasion of Ukraine.
In fact, in June of this year, the average price of a gallon of gasoline in America was nearly $5, with Federal Reserve Ultimately choosing to increase interest rates in order to curb the rapid rise in inflation.
Despite these measures, many residents continue to suffer from these increased costs. To help ease the financial burden on their residents, several states have implemented the use of tax cuts and stimulus checks, to help those from middle- and low-income families get through these difficult times.
As the year draws to a close, many states continue to issue payments as we head into the new year.
What countries offer tex discounts or stimulus payments?
Below is a list of states that continue to issue stimulus payments, tax rebates, or a combination of both.
California residents still receive inflation relief payments of up to $1,050.
Florida Governor Ron DeSantis introduced a care plan that provides more than 60,000 families with children with a one-time payment of $450 to help combat inflation.
Illinois residents currently take advantage of the Income and Property Tax Credit Scheme for up to $300 for a family of four.
4. New Jersey
New Jersey also issues property tax deductions under the Affordable Communities of New Jersey plan for homeowners and renters (ANCHOR). Amounts vary by income with the earning limit set to $250,000.
5. New York
Like New Jersey, the Empire State issues property tax rebates for up to $1,050. It is estimated that the average payout per file is $450.
Other countries offer benefits:
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