Government Aid

States Offering $500 Stimulus Checks – Complete List and Payment Schedule Inside

By Ehsteem Arif

Published on: July 8, 2024

In July, many U.S. residents will have the opportunity to receive new stimulus checks. These monthly payments, which can be as much as $500, are contingent upon households meeting specific qualifying conditions set by their state. The aim is to provide much-needed financial relief to eligible citizens.

Contents

• 1 Eligibility
• 2 Background
• 3 Goals
• 4 How New Payments Differ
• 5 $500 Stimulus Checks
  • • 5.0.1 California
    • 5.0.2 Michigan
    • 5.0.3 New Mexico
    • 5.0.4 New York
    • 5.0.5 Washington
  • 5.1 FAQs
  • 5.2 Who is eligible for new stimulus payments?
  • 5.3 How much can individuals receive from new stimulus checks?
  • 5.4 What was the difference between EIPs and new state payments?
  • 5.5 Which state offers the highest monthly stimulus payment?
  • 5.6 Are new stimulus checks automatic?

Eligibility

To be eligible for these monthly payments, households must meet criteria defined by their respective states. These criteria often focus on income levels, family size, and other financial factors. The stimulus payments are designed to assist those most impacted by economic challenges, particularly low-income families.

Background

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COVID-19 caused a significant financial crisis, leaving many households struggling with higher prices and limited healthcare access. In response, the federal government introduced Economic Impact Payments (EIPs) to support millions of Americans in their recovery.

However, the initial payments were often too small, and many individuals continue to struggle. Recognizing these ongoing challenges, local and state governments have implemented more sustained assistance, moving from one-time payments to ongoing support.

Goals

The primary goals of these new stimulus payments are to:

• Help low-income households manage healthcare costs
• Alleviate the impact of excessive inflation

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These efforts aim to ensure that struggling families receive continuous support as they navigate challenging economic times.

How New Payments Differ

The third EIP was an early payment of the 2021 Recovery Rebate Credit, larger for most recipients compared to the first two EIPs. Singles received up to $1,400, couples up to $2,800, and each dependent added $1,400. The first two EIPs were smaller, offering $500-$600 for children under 17. Unlike the first two, the third EIP did not penalize those with an ITIN, ensuring broader eligibility.

Most people received the third EIP automatically, using 2019 or 2020 tax information. The first two EIPs required filing a tax return or using the IRS Non-Filers tool. The new state-level stimulus payments offer more sustained monthly support compared to these one-time federal payments.