Recession Money On The Way
The ongoing recession has been a challenging time for many New Jersey residents, and the state government is taking steps to help ease the financial burden. The $1,000 recession money proposed as part of the state’s $53.1 billion budget for the fiscal year 2024 is just one example of the assistance being offered.
In addition to the $1,000 recession money, the budget includes plans to double the maximum amount of the state’s child tax credit (CTC) from $500 to $1,000 for each child younger than five years old. The state is also continuing the Affordable NJ Communities for Homeowners & Renters (ANCHOR) program, which provides payments of up to $1,500 for homeowners and $450 for renters who meet the eligibility requirements.
READ ALSO: New Jersey ANCHOR Program Direct Payments: How To Apply And When To Expect Your Money
It’s important to note that eligibility requirements for these rebates may vary and residents will need to apply for the benefit. However, for those who do qualify, the financial relief provided by these programs could make a significant difference in their daily lives.
According to a published article in The U.S. Sun, as Governor Phil Murphy said, the budget is focused on helping families secure their place in the Next New Jersey. By offering financial assistance to those in need, the state is taking steps to help its residents weather the ongoing recession and emerge stronger on the other side.
If you’re a resident of New Jersey, it’s worth checking your eligibility for the $1,000 recession money and taking advantage of the financial relief being offered. With payments set to begin in late Spring 2023 and lasting through May, now is the time to act and get the assistance you need to weather the ongoing recession.
