Ever since the White House and Congress came together for a $2 trillion stimulus package in late March, there has been much discussion over the stimulus checks that will be sent out to eligible Americans. As entailed in the stimulus package, eligible Americans will receive a one-time check of $1,200 or $2,400 for couples filing a joint tax return. However, according to a report from Ownerly, these stimulus checks will have a greater economic impact in certain states. As the publication noted, there will reportedly be a greater state average payout in states such as Mississippi and Arkansas.
Ownerly reported that the states that will have the highest estimated payout are Mississippi (where the average per qualifying family is $2,659), New Mexico ($2,571), Louisiana ($2,543), Alabama ($2,515), and Florida ($2,501). On the other hand, states on the lower end of this average include Massachusetts ($1,897), New Hampshire ($1,899), Maryland ($1,918), Connecticut ($1,920) and New Jersey ($1,931). To obtain this information, Ownerly used United States census data. The outlet based these stimulus estimates on the number of households that fall within the income levels that would be entitled to a full or partial payment.
They also took into consideration the average number of children per household, as those who claim children as dependents can receive an additional $500 per child along with their stimulus check. Once they obtained those figures, Ownerly compared that information with average household bills (average rent, utilities, cable/satellite and mobile phone) and determined which states will have the greatest economic impact due to this stimulus package.
“To be sure, there are few who believe the payouts will cover full costs for the recently unemployed, especially facing an uncertain time frame in which employment markets may recover from the coronavirus,” Richard Gargan, a spokesperson for Ownerly said. “Rather, the index gives a directional indication of the states which stand to economically benefit the most based on average family size and monthly costs.”
Many Americans across the country have reportedly already received their checks. If you haven't received yours just yet, rest assured that it is on the way. In the meantime, you can turn to IRS' new tool, "Get My Payment," on IRS.gov in order to check the status of your payment. While there has been some discussion about whether a second round of checks is on the way, nothing has been confirmed or put into place by the government just yet.