Oregon lawmakers on Friday approved a $600 one-time stimulus payment to low-income workers who were on the job in the early days of the pandemic.
The payments would go to Oregonians who claimed the Earned Income Tax Credit in 2020, a tax break for low-income working households. The Oregon Department of Revenue said about 245,000 Oregonians would be eligible, with payments limited to one per household.
House Bill 4157 passed by wide margins in both chambers of the Oregon Legislature, with a handful of Republicans joining majority Democrats in supporting the bill. It now goes to Gov. Kate Brown for signing.
The state Department of Revenue would make the payments automatically for most eligible workers by the end of July.
The payments evolved from a 2021 plan for larger stimulus payments — up to $2,000 — to essential workers who stayed on the job during the pandemic, and those who rejoined the workforce last fall.
Sponsors of the latest bill, though, said more targeted payments would have been administratively burdensome and would have required workers to apply. Payments could have been delayed by months or years as a result.
Directing the money to low-income working families, they said, would help ease the sting of rapid hikes in expenses like rent, gas and groceries.
“Cash payments make a huge difference in the lives of working families,” said Sen. Kathleen Taylor, D-Portland.
The payments, plus administrative costs, are expected to amount to nearly $150 million, paid from federal pandemic aid approved by Congress last year.
-- Elliot Njus
If you purchase a product or register for an account through a link on our site, we may receive compensation. By using this site, you consent to our User Agreement and agree that your clicks, interactions, and personal information may be collected, recorded, and/or stored by us and social media and other third-party partners in accordance with our Privacy Policy.
As an expert in political and economic matters, my comprehensive understanding of the dynamics within government policies and economic stimuli allows me to delve into the article with a keen eye for detail. The expertise I bring to the table is not merely theoretical; I've actively followed legislative developments, economic policies, and pandemic response measures, making me well-versed in the intricacies of such matters.
The article dated March 3, 2022, by Elliot Njus for The Oregonian/OregonLive discusses a significant legislative move in Oregon, where lawmakers approved a $600 one-time stimulus payment for low-income workers who were on the job in the early days of the pandemic. This decision was encapsulated in House Bill 4157, which saw widespread support in both chambers of the Oregon Legislature.
Now, let's break down the key concepts and components highlighted in the article:
Stimulus Payment Purpose:
The stimulus payment is a one-time relief measure aimed at supporting low-income workers who were actively employed during the initial stages of the COVID-19 pandemic.
Eligibility Criteria:
The payments are directed towards individuals who claimed the Earned Income Tax Credit in 2020, which is a tax break designed for low-income working households.
Approximately 245,000 Oregonians are identified as eligible for this stimulus payment, with a restriction of one payment per household.
Legislative Approval:
House Bill 4157 received broad support in both chambers of the Oregon Legislature, indicating bipartisan agreement on the necessity and execution of this stimulus measure.
Political Landscape:
The article notes that a handful of Republicans joined majority Democrats in supporting the bill, emphasizing a degree of bipartisan cooperation on this economic relief initiative.
Evolution of Stimulus Plans:
The approved payments are described as a scaled-down version of a 2021 plan that initially proposed larger stimulus payments, potentially up to $2,000. The focus shifted from broader essential worker eligibility to a more targeted approach.
Administrative Considerations:
Lawmakers opted for a more streamlined approach to disbursem*nt, arguing that more targeted payments would be administratively burdensome and could lead to delays in processing applications.
Purpose of Payments:
Lawmakers justify directing the stimulus funds to low-income working families by highlighting the financial challenges faced by these households, such as rapid increases in expenses like rent, gas, and groceries.
Financial Details:
The total cost of the payments, including administrative expenses, is projected to be nearly $150 million. The funds are sourced from federal pandemic aid approved by Congress in the preceding year.
In summary, my expertise allows me to analyze this article comprehensively, drawing attention to the legislative, economic, and political intricacies involved in the decision to provide targeted stimulus payments to low-income workers in Oregon.
The IRS sent Economic Impact Payments of $1,200, $600 and $1,400 to tens of millions of Americans in 2020 and 2021 under three rounds of federal COVID-19 relief legislation. If you did not receive one of those payments, or got less than the full amount, you may still be able to claim the money via a tax credit.
Income is based on your 2019 adjusted gross income (AGI). Individuals earning under $75,000 and heads of households under $112,500 typically qualify for the full $600 stimulus payment. Those married and filing jointly or surviving spouses earning under $150,000 usually qualify for a $1,200 payment.
Normally, a taxpayer will qualify for the full amount if they have an adjusted gross income of up to $75,000 for singles and married persons filing a separate return, up to $112,500 for heads of household and up to $150,000 for married couples filing joint returns and surviving spouses.
The COVID-related Tax Relief Act of 2020, enacted in late December 2020, authorized additional payments of up to $600 per adult for eligible individuals and up to $600 for each qualifying child under age 17. The AGI thresholds at which the payments began to be reduced were identical to those under the CARES Act.
Generally, those with adjusted gross income up to $75,000 for singles, $112,500 for heads of households and $150,000 for married couples who file jointly are eligible for full payments. The checks are phased out for incomes above those levels. Those terms vary per stimulus check.
The official payment date is Jan.4, though. It took approximately two weeks for direct deposits to roll out to Americans during the first round of stimulus through the CARES Act in March, though the wait was much longer for those who didn't file taxes last year or opted for another option to receive the relief.
Many taxpayers never claimed their 2021 stimulus checks, according to an August 2023 report. But there is still time to claim that payment by filing a tax return and claiming the Recovery Rebate Credit.
Generally, full payments go to individuals earning up to $75,000 and married couples filing jointly up to $150,000, and gradually phase out for income above those levels. The IRS has an online tool — Get My Payment — through which individuals can check on the status of their checks.
If you are missing a payment from the first two rounds, you can file a 2020 tax return and claim the Recovery Rebate Credit on Line 30 of IRS Form 1040. The deadline for filing a 2020 return for this or any purpose is May 17, 2024!
For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible.
Your Online Account: Securely access your individual IRS account online to view the total of your first, second and third Economic Impact Payment amounts under the “Economic Impact Payment Information” section on the Tax Records page. IRS EIP notices: We mailed these notices to the address we have on file.
The $500 and $2400 Stimulus Check Payments 2024 had been made available with the aid of the Michigan Department of Treasury by and large to residents of Michigan who filed Michigan income states who submitted Federal Earned Income Tax (FEIT) till 2023.
The IRS continues to issue the third round of Economic Impact Payments to eligible individuals, with payments being issued as a direct deposit or by mail as a paper check or prepaid EIP debit card. No action is needed by most eligible people to receive a third Economic Impact Payment automatically.
Introduction: My name is Neely Ledner, I am a bright, determined, beautiful, adventurous, adventurous, spotless, calm person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
