Residents of New Mexico may soon be one step closer to receiving a tax rebate ranging from $500 to $1,000 from the state’s omnibus bill.
The proposed omnibus bill has been approved by the state House of Representatives but still needs to be approved by the state Senate. The omnibus bill combines several similar bills that were introduced with the goal of providing more money to the people of New Mexico.
Forbes)
Who qualifies for the tax rebate under the Omnibus bill?
The state’s omnibus bill is expected to provide a rebate of $500 to single filers, while married couples filing jointly will receive $1,000. This is a significant increase from the previously proposed $300 and $600 rebates.
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The increased payments are expected to be well-received by residents, but there was another proposal that would have provided even more money. Governor Michelle Lujan Grisham had called for payments of $750 for single filers and $1,500 for married couples in her state of the state address in January, US Sun reported.
New Mexico is not the only state planning to provide stimulus payments to its residents.
Maine, Idaho, Connecticut, and South Carolina have all proposed similar measures to assist their residents. In Maine, nearly 900,000 residents will be eligible for checks of $450 to assist with high energy prices. Idaho plans to send out $500 million in tax rebates before the end of the month, while Connecticut plans to provide essential frontline personnel with payments of $1,000.
Overall, the proposed omnibus bill tax rebates and stimulus payments are expected to provide much-needed relief to residents who have been hit hard by the economic impacts of the COVID-19 pandemic. While there are still hurdles to overcome before these proposals become a reality, the measures provide hope that relief is on the way for many Americans.
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