Inflation is raging. At a forty year high, Americans are feeling the pinch – in the grocery store, at the gas pump – everywhere.

In March of 2020 amidst the COVID-19 pandemic, most Americans received a $1,200 stimulus check from the federal government through the CARES Act. Later that year in December, a second stimulus check was approved by Congress. Most US citizens received $600.

Then, after Joe Biden was inaugurated in January of 2021, Democrats were able to, without Republican support, pass the American Rescue Plan. Through this legislation the majority of Americans received a third stimulus check in the amount of $1,400.

According to Jason Lemon in an article published at Newsweek.com, the three stimulus checks “proved enormously popular”. Americans remain hopeful more will come. However, in the current political climate, the probability of a fourth stimulus check coming soon from the federal government is unlikely.

Many state legislatures and their governors are taking the issue of economic relief for their residents into their own hands with help around the corner.

For New Mexicans this help is coming as early as June, and Lea County residents should be on the lookout.

Relief for New Mexicans Filing a 2021 PIT

Governor Michelle Lujan Grisham is quoted at Tax.NewMexico.gov as saying, “This summer we’ll be returning hundreds of millions of dollars in relief to families around New Mexico, protecting their paychecks and helping them cope with the rising prices of gas, groceries and other household expenses.”

ALL New Mexican taxpayers will receive “refundable income tax” rebates:

• $500 for single filers
• $1,000 for joint filers, heads of households and surviving spouses

These rebates will be sent automatically in June and August in equal payments of $250 or $500 to taxpayers who have filed a 2021 Personal Income Tax (PIT) return.

QUALIFYING taxpayers who filed a 2021 PIT return will be sent automatically in July:

• $500 for married couples filing jointly, heads of household and surviving spouses earning less than $150,000
• $250 for single filers and married individuals filing separately earning less than $75,000

Relief for New Mexicans Not Filing a 2021 PIT

Relief payments to New Mexicans who do not file PIT returns will be “distributed on a first-come, first-serve basis” and issued by July 3, 3022:

• $1,000 for “households of married couples or single individuals with one or more dependents”
• $500 for “households of single individuals without dependents”

During the 2022 Special Session of the New Mexico State Legislature, $20 million was appropriated to be distributed to New Mexicans who fall into this category.

Applications for this relief may be made through the New Mexico Human Services Department.