Congress may still be at an impasse as it concerns stimulus negotiations, but some individuals in New Mexico should plan on getting a $1,200 check sometime soon. According to Forbes, 140,000 New Mexicans will receive an extra $1,200 stimulus check. As for the reason why New Mexico Governor Michelle Lujan Grisham recently signed into law a $330 million relief bill that is designed to help unemployed residents of the state and certain businesses that have been affected by the COVID-19 pandemic.
Of the $330 million designated for this bill, $200 million of the package will go towards sending another $1,200 check to unemployed residents in the state. A majority of the funds in this package came from federal aid. New Mexico received $1.2 billion in CARES Act funding back in March, when the White House and Congress agreed to their first and, so far, the only stimulus package. But, the state still had $319 million in unspent funds. Forbes noted that the CARES Act funding must be spent by Dec. 30. As a result, New Mexico passed a $330 million stimulus package on utilizing those funds and provided some much-needed financial relief to many state residents. The state's seasonally adjusted unemployment rate was at 8.1 percent in October, which is a great deal higher than the national average of 6.9 percent. Since there are around 140,000 unemployed individuals in the state, lawmakers decided that it was best to use their funding to send out another round of stimulus checks to those in dire need.
“I know this stimulus will mean so much to so many New Mexicans as we enter the holiday season,” Governor Lujan Grisham said. “But our work isn’t done. The pandemic has never been more dangerous in our state, and the economic pain caused by the spread of the virus is felt in every corner of New Mexico."
While New Mexicans will soon see some financial relief, it may be another story for Americans across the country. Senate Majority Leader Mitch McConnell said on Monday that there is "no reason" why Congress can't pass another stimulus bill before the end of the year. However, due to differences between the Democrats and the Republicans (with one of the main points of contention being the total price of the package), it's unclear if they will be able to agree anytime soon.