As of the latest information, there is no indication of a new federal stimulus check being issued in 2023. However, some states are utilizing unspent funds from the American Rescue Plan to issue their own stimulus checks. The likelihood of receiving a stimulus check depends on individual state decisions and strategies for these funds. States like Florida, Georgia, Michigan, Tennessee, and Texas have decided to give out a “fourth stimulus check” to specific groups, including teachers, with amounts typically ranging between $500 and $1,000.
Regarding Social Security recipients, there has been no announcement or legislation for a new federal-level stimulus package specifically for them in 2023. However, state-specific stimulus measures may be available, depending on each state’s criteria and programs.
If you missed out on the first three federal stimulus checks, you can still claim your missing payment by filing a Recovery Rebate Credit on your federal tax return. This applies to your 2020 or 2021 tax returns, depending on which stimulus payment you missed. To verify which payments you’ve received, you can log in to your IRS account or check the IRS EIP notices sent to you.
2023: Will there be another stimulus check? Here’s what we know so far
As of now, the IRS isn’t planning to distribute a fourth round of federal stimulus checks this year. However, some states are issuing tax rebates in 2023.
Will the new Congress pass another relief bill in 2023? The indications so far
There hasn’t been clear indication yet whether the new Congress will pass another relief bill in 2023. It’s likely to depend on the state of the economy and the ongoing impact of the pandemic.
What triggers would result in more direct payments? Looking at inflation, unemployment and other economic indicators
Triggers for more direct payments could include a significant rise in inflation or unemployment rates, or a downturn in other economic indicators. For instance, during the COVID-19 pandemic, multiple rounds of stimulus checks were issued in response to widespread job losses and economic instability.
Who could qualify for additional stimulus money next year? Looking at income limits and household sizes
Eligibility for potential future stimulus funds would likely be based on income limits and household sizes, similar to previous rounds. In the past, individuals earning up to $75,000 and couples earning up to $150,000 qualified for full payments, with the amounts decreasing for higher earners.
Other potential forms of relief in 2023 beyond stimulus checks. Student loan debt cancellation, child tax credit expansions and more
Beyond stimulus checks, other forms of relief could include student loan debt cancellation, expansion of the child tax credit, and potential tax rebates from certain states2. There may also be initiatives aimed at providing relief to small businesses and boosting the job market.
What are top Democrat and Republican proposals? Comparing new ideas from lawmakers on both sides of the aisle
The specifics of new proposals from lawmakers are not known at this time. In the past, Democrats have generally favored larger relief packages, while Republicans have advocated for more targeted aid.
How soon could negotiations begin? Expectations for timing of relief package discussions in early 2023
The timeline for any potential relief package discussions is uncertain. Factors that could influence the timing include the state of the economy, the impact of the pandemic, and the legislative priorities of the new Congress.
What do economists say about the need for more stimulus? Analyzing views on supporting the economy through 2023
Economists’ views on the need for more stimulus vary, but many agree that targeted support for those most affected by the pandemic and measures to boost the job market could help support the economy.
What can you do now to financially prepare? Strategies for savings, budgeting, job searches and education if no new checks arrive
To prepare financially, individuals can focus on savings, budgeting, seeking new job opportunities, and investing in education or skills training. It’s also wise to take advantage of any existing relief measures, such as tax credits.
Staying up to date on the latest news. Where to find ongoing coverage of stimulus and relief proposals for next year
For the latest updates on potential stimulus checks and other relief proposals, keep an eye on reliable news sources, government websites, and the websites of your local representatives.
