Stimulus Check 2022 Update: Cash Payments of $5,500 Approved in This State

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Tuesday, the Alaska Senate approved a state spending plan that includes $5,500 in cash payments for Alaska residents.

This year, residents will receive approximately $4,200 in dividends and $1,300 in “energy relief” checks.

The package was approved by a vote of 15 to 5 and sent to the House, which will decide whether or not to concur with the Senate version.

 

Stimulus Check

 

Nevertheless, according to the Anchorage Daily News, lawmakers believe the House is more likely to reject it. If this occurs, legislators from both chambers will be required to reach a consensus in a conference committee.

Last month, the House approved a budget version that included a roughly $1,250 dividend and a $1,300 energy check.

In recent years, lawmakers were divided over the size of the dividend, which is traditionally paid with earnings from the Alaska Permanent Fund, the state’s oil-wealth fund.

The printing of economic stimulus checks is in preparation.

Tuesday, the Alaska Senate approved a spending plan that includes $5,500 in stimulus payments for Alaska residents. The bill must now be approved by the state House. Checks for economic stimulus are shown being prepared for printing at the Philadelphia Financial Center.

During Monday’s budget debate, the Senate voted 10-9 in favor of a dividend of approximately $4,200.

According to the Associated Press, the cost of such a dividend would be approximately $2.8 billion, while the cost of the proposed energy payment is estimated to be $840 million.

Supporters of the Senate budget argued that Alaskans could benefit from the financial assistance, while critics raised concerns about the budgetary repercussions.

Republican Alaska House Speaker Louise Stutes criticized conservative state Senate lawmakers for voting for a budget that could significantly deplete the state’s savings.

Stutes was quoted in the Daily News as saying, “We have all these conservatives who have been nickel and diming different bills, saying, ‘We’ve got to save money.'”

“The House—we anticipated putting a substantial amount of money into a savings account. The Senate has now rejected the proposal. These conservatives have just spent all of our money, including our savings and money we have not yet received.”

Stutes anticipated that the House would vote on the budget proposed by the Senate on Wednesday evening or Thursday morning.

The Alaska State Legislature must pass a budget by May 18 or be forced into an extraordinary session.

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Alaska’s vote comes at a time when a number of other states are contemplating sending more direct payments to their residents, as Americans continue to struggle with record-high inflation and rising gas prices, in part as a result of Russia’s ongoing conflict in Ukraine.

Millions of Americans signed online petitions requesting more direct payments in exchange for stimulus checks to ease the financial burden of the COVID-19 pandemic.

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