Millions of Coloradans will receive direct checks of $750 to offset steep prices for fuel and raging inflation. The move comes as Governor Jared Polis announced all eligible Colorado income tax filers will receive their rebate directly in the mail in August.
This rebate is available for all full-time residents who have filed their 2021 tax returns by May 31st, 2022 which is about 3.1 million people. Individuals will receive $750 while joint filers will get $1500. If you are eligible, you can expect your stimulus payment to arrive in the mail by check.
Announcing the decision, Governor Jared Polis said:
People are paying more for everyday items like gas, groceries, and rent through no fault of their own. Instead of the government sitting on money that Coloradans earned, we want to give everyone cash back as quickly and easily as possible to provide immediate relief and empower people to do what they want to with their money.
The money comes from a clause in the Colorado Taxpayer Bill of Rights (TABOR), which gives the state legislature power to determine how to refund excess tax revenue to those who pay it. The state posted $6.1 billion of state revenue in excess of the TABOR cap this year.
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