Senate Approves $5,500 Stimulus Check and Energy Relief Check for Alaskans

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A $5,500 stimulus check payment could be distributed to Alaska residents soon after the state Senate approved a new spending package.

According to Newsweek, the stimulus check covers $4,200 in dividend payments, which can assist families in purchasing much-needed basic goods as grocery prices rise. The remaining $1,300, on the other hand, is considered an energy relief payment due to the exorbitant cost of gas.

 

Stimulus Check

 

On Tuesday, May 10, the Senate voted 15 to 5 to release the new stimulus package. It has also been sent to the House for their approval. If the House does not agree with the Senate’s votes, both chambers must reach an agreement by May 18.

 

Why the Alaskan House Might Oppose the New Stimulus Package

Alaska will use the funds to distribute the stimulus check and energy check from its Statutory Budget Reserve if state revenue is insufficient, according to Value Walk. Alaska is expected to spend more than $8.3 billion in the coming fiscal year, while the chambers have agreed to appropriate nearly $9.3 billion. This means there will be more than one billion.

However, the state House Speaker, Louise Stutes, predicted that the surplus in the state budget would be put into a savings account because Alaska needs to save money. However, the Senate appears to have killed this proposal.

The House Speaker and other opponents of the new stimulus package believe that releasing $5,500 per taxpayer will have a fiscal impact on the state’s budget. Meanwhile, the House approved an earlier version of the state budget that included a lower stimulus check proposal of $1,250 per taxpayer. The proposed energy check remains at $1,300.

Alaskans have received dividend payments once a year since 1976 as part of the state’s Permanent Fund Dividend program, which is funded by oil revenues. In recent years, residents have received an average of $1,600.

 

These states will also receive stimulus funds.

Meanwhile, the Georgia Department of Revenue announced that taxpayers who filed in the previous two tax seasons are eligible for tax rebates of $250 (single filer), $350 (head of household), or $500 (joint filer). Gov. Brian Kemp has already approved the stimulus package’s budget.

Hawaii residents, on the other hand, can expect $300 per family member if they earned less than $100,000 in the previous tax season and $100 per family member if they earned more than $100,000. According to Hawaii News Now, the state’s $2 billion budget surplus will be used to fund this package. Gov. David Ige, on the other hand, has yet to sign this bill into law.

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New Jersey Gov. Phil Murphy approved a $500 stimulus payment for taxpayers in 2021. The governor recently amended the package to include non-citizens or immigrants awaiting citizenship, as well as their spouses and dependents, in the stimulus payment.

Indiana residents will receive their $150 or $250 one-time stimulus payment this May through the summer.

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