With discussions continuing surrounding the fate of the second round of stimulus checks, new questions have arisen about where the money could come from. While the first round of economic impact payments, included as part of the $2 trillion CARES Act, was issued by the Internal Revenue Service (IRS), new reports have suggested that any possible further relief money could come from the states themselves.
As unemployment levels continue to sit at record numbers, several states across the country have taken relief measures into their own hands. According to The Motley Fool, local governments in states from Alaska to Florida have already made stimulus funds available, with amounts varying. Some of these states are using funds that were made available to them from the CARES Act, which established a $150 billion relief fund that offers aid to the state, local, and tribal governments. Among the possible uses of those funds was the distribution of funds to those in need.
One such local to take advantage of these funds is Orange County, Florida, where eligible residents can receive one-time payments up to $1,000 while businesses can qualify for $10,000 grants. Applications for the relief money opened on June 8, with funds open to residents who rent or own a home in the area and who experienced a job loss or reduction in hours in their households. More information on these funds and how to apply can be found by clicking here.
Similar measures have been taken up in Skagway, Alaska, where residents can qualify for monthly stimulus checks valued at $1,000 per household member (including children) for six months. The relief measure was made possible after a municipal resolution established the Emergency Assistance and Economic Stimulus Program. To qualify, applicants must be residents of Skagway and must provide proof that the coronavirus pandemic has financially impacted them. More information can be found by clicking here.
At this time, it remains to be seen if more states will follow suit. To see if your state is providing any financial relief, check in with your local newspaper and news stations, sign up for email alerts from your governor and other local politicians, and check with your state's health and human services department. The Motley Fool suggests that "there's a good chance that other locales could soon follow suit" and make funds available to their residents.
Meanwhile, discussions are actively taking place among lawmakers regarding further payments to Americans, according to Senior White House economic adviser Larry Kudlow, who recently said that lawmakers are in a "pre-decisional" phase. Several lawmakers have voiced their support for further relief packages, with President Donald Trump even reportedly supporting the second round of $1,200 stimulus checks.