At least a dozen states have proposed giving rebate checks of several hundred dollars directly to taxpayers.
It’s also happening as the war in Ukraine has compounded soaring prices for fuel and other essentials.It's also no coincidence that the relief is being floated during an election year, said Mark Brewer, a political science professor at the University of Maine. Maine's governor's race is one of many closely watched contests at the state level this year.
The states are moving toward sending people money as consumer inflation has jumped nearly 8% over the past year. That was theInflation boosted the typical family’s food expenses by nearly $590 last year, according to the Penn Wharton Budget Model, a project of the University of Pennsylvania’s Wharton Business School. Overall, the average family had to spend $3,500 more last year to buy the same amount of goods and services as they purchased in previous years.
“Do we get customers who are angry and irate because things have changed? Yes, we sure do,” Wayne Holly said. “Do we get customers who say ‘I never used to pay that before?’ I say ‘Yeah, I’ve never paid $4.50 for a gallon of gas.’”The rebate plan in New Mexico, and concerns about how much it will help, reflects a growing trend among states as they try to find some relief for their residents amid criticism that they could do more.
Those federal pandemic relief laws also provided stimulus checks to U.S. taxpayers, which helped boost consumer spending on goods subject to state and local sales taxes. From April 2021 to January 2022, total state tax revenues, adjusted for inflation, increased more than 19% compared to the same period a year earlier, according to a recent Urban Institute report.
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