New plan will give working Americans up to $500 in tax rebates - Are you eligible?

There is a possibility that another group of Americans will receive a tax rebate.

Senator Karen E. Spilka and Speaker Ron Mariano introduced legislation in Massachusetts that would grant rebates to working families.

For rebates under the plan, you must meet income requirements

Individuals would receive $250 through the Taxpayer Energy and Economic Relief Fund, while couples would receive $500. 

The goal is to offset the high inflation rate.

According to a joint statement from the lawmakers, "Whether it's gas, groceries, or summer clothing for kids, the rising cost of living has cut into family budgets." 

Who is eligible?

The first requirement is that every taxpayer in the state made $38,000 or more in 2021.

To qualify, however, a single person's income cannot exceed $100,000 and a couple's income cannot exceed $150,000. 

According to the Boston Globe, the bill must pass both the House and Senate by July 31, when the state legislature session ends.

When Can you receive this payment?

Once it is approved, the payments will be issued ahead of September 30, according to the plan.  

The proposal is modeled after a state program that has sent bonuses totaling $500 to essential workers. 

According to the lawmakers' tax rebate plan, they are working on potential changes to the tax code so residents can receive additional relief.  

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