4th stimulus check update 2022 — Americans to receive direct payments of up to $1,700 this month — see exa… – The US Sun

Income caps for Ohio stimulus proposal

The Scioto Valley Guardian reported that Ohio will receive $2.68billion in funding from the next round of American Rescue Plan payments.

These funds will cover the cost of the payments.

Whaley’s plan would send $350 to individuals earning less than $80,000 annually, and $750 to couples making no more than $160,000.

$350 stimulus payments in Ohio

A gubernatorial candidate in Ohio has announced her intention to send out $350 stimulus payments to fight inflation.

In an interview with the Scioto Valley Guardian, Democratic nominee Nan Whaley shared her plan to help Ohio residents handle soaring costs.

Whaley easily won the Democratic primary for governor of Ohio, earning 65.1 percent of the vote in the state’s May 3 primary.

However, she faces stiff competition against incumbent Governor Mike DeWine in the general election.

Iowa relief payments to be disbursed soon

While applications closed in May 2022, all applicants in Iowa should have a decision soon.

To qualify, Iowa residents must meet certain criteria.

This includes suffering from food or housing insecurity.

Residents may also qualify if they are eligible for Supplemental Nutrition Assistance Program, or Supplemental Security Income.

Relief payments in Iowa

As of May 30, a total of 2,596 low and moderate-income residents in Johnson County, Iowa have applied for a one-time stimulus check.

The stimulus is worth $1,400 and comes from the Direct Assistance Program, reports the Press-Citizen. 

The county has set aside $2million from the American Rescue Act to fund the program. 

Who qualifies for federal child tax credits in 2022?

For 2022, families may claim up to $2,000 per child under age 17 as a child tax credit.

Married couples who earn up to $400,000 will qualify.

For singles and those who file as head of household, the income threshold is $200,000.

The Sun has a detailed list of the child tax credit programs in each state.

How much are federal child tax credits in 2022?

Families may be eligible for up to $2,000 in support, depending on income level.

The 2022 child tax credits are a return to pre-Covid levels.

Although Congress did not extend the boosted payments provided by the American Rescue Act, families may still claim the credit on their tax returns.

Banks offering $1,500 bonuses this summer

Many banks are looking to acquire new customers – and will offer bonuses to attract them.

A few examples include:

Axios Bank

SoFi 

TD Bank

Citi Bank 

Getting LIHEAP aid

Households including a person aged 60 or older or an individual receiving disability benefits and services are eligible to sign up each year beginning December 1.

All other households may apply beginning January 1.

Contact your local Department of Social Services for the application dates and for additional information on LIHEAP.

Low-income energy assistance

The Low Income Home Energy Assistance Program (LIHEAP) is a federally-funded program that provides one-time payments to help eligible households pay their heating bills.

Households that meet the following criteria may be eligible:

• Have at least one U.S. citizen or non-citizen who meets the eligibility criteria
• Meet an income test
• Have reserves at or below $2,250
• Be responsible for its heating costs

Rate hikes could lead to another round of stimulus

Fed interest rates were recently hiked, and as a result, many experts fear another potential recession.

That could then lead to another round of stimulus. 

Alan Blinder, the former vice-chairman of the Fed, told CNBC that a recession is likely to happen but probably not in 2022. 

As the Fed gets set for two summer meetings, it is expected to hike rates by 50 basis points at each one.

How homeowners can get relief

The National Council of State Housing Agencies has set up an interactive map to help you find your state or US territory and what kind of housing relief is being offered.

As one example, under California’s plan, eligible homeowners can receive up to $80,000.

According to the White House, at least 60 percent of the federal funds must be used on “low-income” homeowners.

Homeowner $10billion stimulus program

A $10 billion homeowner assistance fund has been set up under the American Rescue Act to help struggling families across the country who are behind on their mortgages. 

A recent report from the White House revealed that 44 states and territories have made their programs available to applicants. 

The Treasury Department has approved all but two plans submitted by states. 

Homeownership may increase net worth by 40 times

According to Realtor.com, 65 percent of Americans own homes.

The net worth of a homeowner is roughly 40 times that of a non-owner, they reported.

At the same time, there is a national shortage of affordable housing.

According to the National Association of Realtors (NAR), the percentage of homes sold below $250,000 has plummeted from 47 percent to 28 percent in the past two years.

June is national homeownership month

June marks National Homeownership Month, according to the US Department of Housing and Urban Development.

It’s a time to help families achieve affordable ownership.

The Biden Administration has taken six steps to make home-buying more affordable, which are laid out here.

Consumer watchdogs warn against high utility prices

Consumer groups have said households will pay 8 percent more for utilities this summer, PBS reported.

Specifically, residents of Pennsylvania will pay from 8 to 38 percent more for electricity.

These increases are expected on June 1.

Electricity prices are up due to the rising cost of gas.

The rise in the cost of utilities may strain the wallets of Americans even more, especially as federal stimulus aid does not seem to be in the cards.

Top cities where sellers are dropping prices

The housing market has been red hot for nearly two years as the pandemic set off record sales, even as some Americans pinched pennies after stimulus payments stopped.

Some states are seeing significant price reductions as mortgage rates continue to rise.

According to Redfin data, seven of the 10 most popular destinations are now seeing price drops.

The cities include Cape Coral, Florida; Sacramento, California; North Port, Florida; Tampa, Florida; Atlanta, Georgia; San Antonio, Texas; and Phoenix, Arizona.

Top 10 cities for renters

A recent study found that the top 10 cities for renters in the United States are all in the South.

According to RentCafe, small and mid-size cities in Texas and the Carolinas rank at the top.

The top 10 are:

• Round Rock, Texas
• Raleigh, North Carolina
• Conroe, Texas
• Greenville, South Carolina
• Orlando, Florida
• Jacksonville, Florida
• Charlotte, North Carolina 
• Charleston, South Carolina
• Atlanta, Georgia
• Austin, Texas

A move to a cheaper location could be in the cards for some Americans amid rising inflation and housing prices and with no future federal stimulus check on the horizon.

Mortgage help up to $65,000, continued

To qualify, Bexar County residents must:

• Own and occupy a home in Texas as a primary residence
• Have experienced financial hardship after January 21, 2020
• Have income at or below 100 percent area median income or 100 percent of the median income for the United States, whichever is greater

Mortgage help up to $65,000 in Texas

Homeowners in Bexar County, Texas may claim federal dollars to help pay their mortgages.

The Texas Homeowner Assistance Fund will now provide financial aid to qualified Texas homeowners  who have fallen behind on their mortgage.

The maximum assistance is $40,000 per household.

For those past due on property taxes, property insurance, HOA or condo association fees, the maximum assistance is $25,000 per household.

Four stimulus programs open in June

The following types of payments are set to reach households in June: stimulus checks, tax rebates and universal basic income (UBI).

More than 10million people still waiting on stimulus checks

A recent report shows that 10million people are still waiting on their stimulus checks.

The Treasury Inspector General for Tax Administration conducted the report, revealing several factors as to why payments may be delayed.

Most people received their stimulus checks by check or direct deposit, reports the Rogersville Review.

Others received them in the form of debit cards. Many mistook these cards as junk mail and regrettably threw them out.

The report by TIGTA said that manually verifying the stimulus claims and debit card policies has delayed the payments for many people.

If you missed out on your payments, you can go to GetYourRefund.org to claim the funds.

Yellen denies claims of stimulus concerns

Excerpts from an upcoming biography of Treasury Secretary Janet Yellen claim that Yellen raised concern about President Biden’s $1.9trillion pandemic relief bill, fearing that the legislation would worsen inflation.

Yellen released a statement denying the claims in the book by journalist Owen Ullmann that she wanted to trim the bill by a third.

“I never urged adoption of a smaller American Rescue Plan package, and I believe that ARP played a central role in driving strong growth throughout 2021 and afterwards,” Yellen said, per the Financial Times.

New Jersey’s $40million stimulus effort

Using funds from the American Rescue Act, New Jersey lawmakers launched the Excluded New Jerseyans Fund — a $40million package designed to provide relief to undocumented immigrants affected by the Covid pandemic.

Successful single applicants were in line for a check worth up to $2,000, while families with an income of less than $55,000 could get $4,000.

The deadline for applications was February 28.

Bonus checks in Massachusetts

Payments worth $500 for eligible workers in Massachusetts were set to go out this month.

The funds will be provided under Massachusett’s Essential Employee Premium Pay program.

Eligibility is determined by 2021 income.

$250 child tax credits began July 1 in Connecticut

Applications for $250 child tax credits, which come in the form of a tax rebate, opened in Connecticut.

They will remain open from June 1 to July 31.

Connecticut families may claim up to three credits, worth $250 each.

The payments come as Connecticut’s record-smashing budget surplus has come to light.

The tax rebates are part of an updated budget plan, which kicked in on July 1.