January 1, Stimulus Update: Americans in One State To Receive Extra $500

Certain Georgia residents are set to receive a little extra dough, thanks to some recent legislative action from Gov. Brian Kemp (R).

Kemp recently signed House Bill 18, which boosts the state’s budget by $2.4 billion through the end of the fiscal year, June 30.

Under the plan, taxpayers with homestead exemptions will receive about $500 on average from the state. Additionally, the budget also allots enough funds to give taxpayers up to $500 in refunds for a second year.

The amended budget also gives one-time $500 bonuses for 54,000 retirees in the state’s Employees’ Retirement System.

“This mid-year budget includes a lot of benefits for hard-working Georgians, but I’m most thankful that it delivers on the promises I made last year to the people of our great state and it’s geared to help them fight through 40-year high inflation,” Kemp said during a speech on Monday.

“While some on the federal level are pushing a budget which raises taxes on Americans, we’re giving the money back to the people through our budget, because they know best how to use it,” he said.

“Last year, we returned over a billion dollars to the taxpayers of Georgia through a state income tax refund. This year, as you know, we are doing that again,” Kemp added.

Kemp said the mid-year budget should show federal lawmakers — who are about to start their own budget negotiations — that “you can hold the line on spending” and “use innovation to make government more efficient and streamlined” without raising taxes for hardworking Americans.

In addition to the various tax refunds to Georgia residents, the amended budget also allocates $115 million for school security grants and $92 million to reduce healthcare premiums.

Also in the works in Georgia is House Bill 162, which would give single filers a $250 tax refund, and joint filers would get $500. The state Senate is set to debate that legislation this week.

Source: Newsweek