With little immediate relief from the federal government in sight to respond to record inflation, some states are taking matters into their own hands. Fourteen states will send—or have already sent—one-time payments to taxpayers in the coming months:California: Up to $1,050 RebateCalifornia’s new budget includes payments of $700 for couples filing jointly making under $150,000 annually. Individual taxpayers within this income cap will receive $350. Eligible households will also receive $350 if they have qualifying dependents.Taxpayers with incomes at $75,000 or above will receive a phased benefit with a maximum payment of $200 per individual ($400 per couple filing jointly). Households will get an additional $200 if they have qualifying dependents.The state plans to begin disbursing payments in October via direct deposit and debit cards.Colorado: $500 Rebate PaymentsColorado intends to send payments of at least $500 to taxpayers this year, after Gov. Jared Polis signed a bill in late May.The exact amount depends on state revenue totals, but lawmakers expect every full-time resident who files a 2021 tax return before June 30 will receive a payment in September.Delaware: $300 ‘Relief Rebate’ PaymentsIn May, Delaware started sending “relief rebate” payments of $300 to taxpayers who filed their 2020 state tax return. The one-time payment is possible due to a budget surplus. Couples filing jointly will receive $300 each.Payments were distributed to most eligible Delaware residents in May.Instructions to claim the rebate haven’t yet been released for residents who haven’t filed a 2020 state tax return. Instructions are anticipated to be announced by Oct. 17.Georgia: $250 Rebate PaymentsThanks to a historic state budget surplus, Georgia residents who filed both their 2020 and 2021 tax returns will be eligible to receive rebate payments based on their tax filing status:Single filers: Maximum $250Head of household: Maximum $375Married filing jointly: Maximum $500If you owe income tax or other payments to the state such as delinquent child support payments, you may receive a smaller rebate. Partial-year residents may also receive a smaller rebate.Residents who filed their taxes before Gov. Brian Kemp signed the legislation will receive their rebates via a separate payment.Georgia taxpayers can learn more via the Georgia Department of Revenue.Hawaii: $300 Rebate PaymentsIn January, Gov. David Ige proposed sending a tax rebate to every Hawaii taxpayer. Taxpayers earning less than $100,000 per year would receive $300, and those earning more than $100,000 per year would receive $100. Dependents are eligible for the rebate, too.The Hawaii legislature has approved the rebate, but details for distribution haven’t been released. Payments may begin processing in late August, per the state Department of Taxation.Idaho: $75 Rebate PaymentsIn February, Idaho Gov. Brad Little signed a bill that allocates $350 million for tax rebates to Idahoans. There are two criteria for eligibility:Full-time Idaho residency and filed 2020 and 2021 tax year returns, ORFull-time Idaho residency and filed grocery-credit refund returns.The payments began in March. Each taxpayer will receive either $75 or 12% of your 2020 Idaho state taxes, whichever is greater (check Form 40, line 20 for your tax amount reported). The rebate is applicable to each individual taxpayer and each dependent.The tax commission will first issue rebates to taxpayers who received refunds via direct deposit, then send paper rebate checks.State residents can also check the status of their rebate online.Illinois: $50 RebatesIn April, Illinois Gov. JB Pritzker included rebate checks for state taxpayers in the state’s budget.Rebates are available for residents making less than $200,000 per year ($400,000 per couple filing jointly). Each individual will receive $50, with an additional $100 per eligible dependent (up to three kids per family).A rebate payment schedule has not yet been released.Indiana: $125 Rebate PaymentsLike Georgia, Indiana found itself with a healthy budget surplus at the end of 2021. In Dec. 2021, Gov. Eric Holcomb announced that Indiana taxpayers will get a $125 one-time tax refund after they file their 2021 taxes.There’s no income requirement. Residents must have filed a state tax return for the year 2020 by Jan. 3, 2022, as well as a 2021 Indiana tax return by April 18, 2022, to be eligible. Payments started in May and are expected to continue through mid-summer, according to a state information page.Taxpayers who file jointly will receive a single deposit of $250.Most taxpayers will receive their additional refund by direct deposit. If you changed banks or don’t have direct deposit information on file, you’ll receive a paper check in late summer.For more information, visit the state Department of Revenue website. More information will be added for taxpayers who don’t receive their payment by Sept. 1.In June, Holcomb announced a plan to send additional payments of about $225 to taxpayers, but it hasn’t yet been approved by the state legislature.Maine: $850 Direct Relief PaymentsGov. Janet Mills signed a supplemental budget on April 20 to authorize direct relief payments of $850 for Maine taxpayers.Full-time residents with a federal adjusted gross income of less than $100,000 ($150,000 if filing as head of household, $200,000 for couples filing jointly) are eligible. Couples filing jointly will receive one relief check per taxpayer for a total of $1,700.Taxpayers are eligible for the payment regardless of whether they owe income tax to the state.Residents who did not file a state tax return for 2021 can file through Oct. 31 to claim their payment.The one-time payments, which are being funded by the state’s surplus, started rolling out via mail in June to the address on your 2021 Maine tax return.The supplemental budget also includes an increased benefit for Maine’s earned income tax credit (EITC) recipients.Minnesota: $750 Payments for Frontline WorkersSome frontline workers can receive a one-time payment of $750, thanks to a bill signed by Gov. Tim Walz in early May.Eligible workers must have worked at least 120 hours in Minnesota between March 15, 2020 and June 30, 2021, and were not eligible for remote work. Workers with direct Covid-19 patient-care responsibilities must have annual income of less than $175,000 between Dec. 2019 and Jan. 2022; workers without direct patient care responsibilities must have an income of less than $85,000 annually for the same period. You can apply for the payment through July 22.Walz has more recently proposed using the state’s $7 billion budget surplus to fund a generous relief package, proposing that Minnesotans receive tax rebate checks of $1,000 per person. Doing so would require action from the state legislature.New Jersey: $500 Rebate ChecksIn fall 2021, Gov. Phil Murphy and the New Jersey state legislature approved budget measures to send one-time rebate checks of up to $500 to nearly 1 million families.Now, Murphy has proposed earmarking an additional $53 million to send $500 payments to those who file taxes using a taxpayer identification number instead of a Social Security number. These newly eligible people would include nonresident and resident aliens, their spouses and dependents.New Mexico: $500 RebatesIn early March, Gov. Michelle Lujan Grisham signed a law to send multiple rebates to state taxpayers.Taxpayers earning under $75,000 annually (under $150,000 for joint filers) will receive a rebate of $250 ($500 for joint filers). The rebate will be issued in July and sent automatically to taxpayers who filed a 2021 state return.Another rebate will be issued to all taxpayers. Single filers will receive $500, and joint filers will receive $1,000. This rebate will be split into two equal payments, delivered in June and August 2022. The funds will be sent automatically to taxpayers who filed a 2021 state return.A taxpayer earning under $75,000 annually could potentially receive up to $750 with the combined rebates.Residents who don’t file income tax returns will also receive a rebate in July. Single individuals without dependents will receive $500; households with married couples or single adults with dependents will get $1,000.If you file your 2021 state income tax return by May 31, 2023, you’ll receive your rebate by direct deposit or check. If you owe tax from your 2021 return, it will be deducted from your rebate amount.Residents who don’t file taxes and aren’t dependents of another taxpayer can apply for a relief payment at YesNM.South Carolina: Rebate Checks of up to $800A budget plan approved in June earmarked $1 billion for a tax rebate that will provide a one-time payment of up to $800 for some taxpayers. Details for obtaining the rebate, which is expected to be disbursed later this year, have not yet been announced.Virginia: $250 RebatesThe Virginia General Assembly approved a one-time tax rebate in June. Tax rebates won’t be issued until late September. Residents who filed a state tax return prior to July 1 will “likely” receive their rebate in September or October, according to the Virginia Department of Taxation.Taxpayers who received a refund via direct deposit will receive the rebate of $250 per taxpayer ($500 for a couple filing jointly) to that same bank account; other eligible taxpayers will get a check in the mail.Residents who have moved or changed their name should update their information with the Virginia Department of Taxation prior to Aug. 15.Pending State Gas Rebate and Stimulus ProgramsWhile not yet approved by their state legislatures and signed into law, four states have introduced legislation for gas rebates, direct stimulus check payments, grocery tax cuts and income tax rebates for their residents.KansasGov. Laura Kelly proposed a one-time tax rebate of $250 ($500 for married couples filing jointly) for Kansas residents who filed a 2020 state tax return. But the rebate, to be paid for with a state budget surplus, wasn’t finalized before the state legislative session ended in May.KentuckyThe Kentucky Senate approved a $1 billion rebate for taxpayers thanks to the state’s budget surplus, but it languished once it reached the House of Representatives. Eligible Kentuckians would receive a one-time payment of up to $500 and up to $1,000 per household. The state legislature has adjourned for the year, so it’s not likely residents will see relief in the near future.North CarolinaNorth Carolina has a $6.5 billion budget surplus, which some Democratic lawmakers want to use to deliver tax rebates. A bill in the general assembly would grant $200 checks to residents (namely, licensed drivers over 18), but has been met by opposition by state Senate Republicans who would rather see long-term tax reduction rather than a one-time rebate.PennsylvaniaPennsylvania has legislation pending that would provide up to $500 million in direct assistance to help families pay for expenses like childcare and household expenses. Under Gov. Tom Wolf’s PA Opportunity Program, households with an income of $80,000 or less would be eligible for a one-time $2,000 payment.The payments would be funded with American Rescue Plan Act (ARPA) federal funding that was granted to the state. Wolf presented his proposal in February and has continued to push state legislators on the plan.$100 Per Month Federal Energy Rebate PaymentIn March, Reps. Mike Thompson (D-CA), John Larson (D-CT) and Lauren Underwood (D-IL) introduced the Gas Rebate Act of 2022. The act would send energy rebate payments of $100 per month to eligible taxpayers through the end of 2022, and offer an additional $100 per dependent per month.Payment eligibility would be structured similarly to previous stimulus payments. Married filers filing jointly with incomes up to $150,000 and single filers earning up to $75,000 would receive the full payment, with phase-out levels for higher incomes.The legislation would need to make its way through Congress before payments can begin. It hasn’t yet been discussed at the committee level.
The Price Gouging Prevention Act specifically would:Prohibit price gouging at the federal level. The proposed bill would allow the FTC and state attorneys general to enforce a new standard against sellers charging an unconscionably excessive price during periods of exceptional market shock. The bill clarifies that price gouging is illegal wherever it occurs in a supply chain or distribution network.Create an affirmative defense for small businesses acting in good faith. Local businesses often must raise prices during crisis events because they have little negotiating power with their price-gouging suppliers. This affirmative defense protects small businesses earning less than $100 million from frivolous litigation if they show legitimate cost increases.Target dominant companies that have exploited the pandemic to boost profits. The bill would create a rebuttable presumption of price gouging against firms that exercise unfair leverage and companies that brag about increasing prices during periods of inflation.Require public companies to clearly disclose costs and pricing strategies. During periods of exceptional market shock, the bill requires public companies to transparently disclose and explain changes in their cost of goods sold, gross margins, and pricing strategies in their quarterly SEC filings.Provide additional funding to the FTC. The bill appropriates $1 billion in funding to the FTC to carry out its work.