Millions of Americans Will Get a $125 Stimulus. Are You One?

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Many Americans are currently struggling with rising living costs. Inflation has increased the cost of basic goods, and the Ukraine crisis has pushed up gas prices in particular. This has put a strain on the budgets of many people, particularly those without a savings account to fall back on.

However, residents of Indiana may be in luck. In December 2021, the state budget showed a $3.9 billion surplus. And it is now preparing to share the wealth with the residents.

 

stimulus

 

A nice payday for residents of Indiana

Due to the state’s surplus, approximately 4.3 million residents of Indiana will be eligible for a $125 payment. Anyone who filed a 2020 tax return prior to Jan. 3, 2022, is eligible for the windfall, while married couples filing jointly will receive $250.

This is not the first time that residents of Indiana have received a payday of this nature. In 2012, the state’s taxpayers received an average of $111 per person due to a surplus. Given recent increases in living expenses, that $125 windfall couldn’t come at a better time.

 

Will the American people as a whole receive another stimulus?

Unfortunately, there is no discussion of broadcasting a fourth stimulus check to the general public, despite widespread agreement that it is desperately needed at the moment. The reason lawmakers are not considering a fourth stimulus package is that the economy is doing quite well. While living costs have increased, this is not a sign of economic weakness.

Additionally, the unemployment rate is significantly lower now than it was a year ago, just as the last round of stimulus checks began to arrive in Americans’ bank accounts. Indeed, many businesses are so eager to hire that they are increasing wages to attract talent.

 

Creating a unique stimulant

In aggregate, economic conditions do not necessitate a massive stimulus round. And this means that the majority of people will not see a windfall in the near future.

However, all is not lost. We recently concluded tax season, and many Americans may receive their refunds in the coming weeks. That money could come in handy for bill payments and as a cushion for those who live paycheck to paycheck.

Additionally, as previously stated, today’s job market is quite competitive. As a result, those looking to supplement their income with a second job may have a plethora of options.

This also applies to employees who face childcare constraints. Today’s gig economy is more adaptable than ever, and for those who are unable to work outside the home, there are numerous remote work opportunities worth pursuing.

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In aggregate, many people are still struggling financially as a result of higher living costs and also because they have not yet fully recovered from the pandemic’s financial toll. While Indiana may be an outlier in terms of stimulus spending, the good news is that Americans have some flexibility in terms of making their own stimulus payments.

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