These most-anticipated stimulus payments will soon hit the accounts of these eligible individuals. Stimulus payments are one of the most direct and efficient ways of providing immediate economic relief to eligible residents during periods of economic crisis. While these payments are generally made on a once-off basis, sometimes authorities will implement annual stimulus payment programs, whereby residents can expect these payments to occur once a year, provided they meet the qualifying criteria.
Stimulus payments to provide immediate economic relief
Stimulus payments are a sure way to provide direct economic relief for residents during periods of low economic activity and financial distress. These payments can alleviate imminent financial stressors while governments work towards implementing long-term solutions to address the reasons why a period of low economic activity is occurring. While not addressing the problem directly, alleviating financial strain is a necessary step to assist residents immediately.
The COVID-19 pandemic is a prime example of where stimulus payments play their role best. Between March 2020 and March 2021, the Biden Administration released three rounds of Economic Impact Payments (EIPs) in the form of stimulus payments as a response to the mass job loss and unemployment that was experienced across the country during this period.
More recently, the Trump Administration has announced plans for a stimulus payment program for parents who will welcome a new baby between January 1, 2025 through to December 31, 2028. These parents will receive an initial stimulus payment of $1,000 from the Trump Administration into a “Trump Account,” which parents and caregivers are permitted to contribute up to $5,000 towards.
“The One Big Beautiful Bill provides for the establishment of a Trump Account on behalf of every eligible
American child born after January 1, 2025 through December 31, 2028, for whom an election is made,” describes the Trump Administration in an August 2025 statement. “The federal government will make an initial deposit of $1,000 into each Trump Account. Parents are then able, though not required, to make additional deposits into the account of up to $5,000 per year.“
Up to $1,750 stimulus payments for these individuals
At a local level, the New Jersey Department of Taxation is currently underway with distributing its annual Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program stimulus payments, whereby eligible homeowners and renters will receive tax relief from their property tax obligations.
Payments are distributed on a rolling basis within 90 days of being approved for the stimulus payment, with beneficiaries beginning to receive payments from September 19. Amounts will vary depending on your income level; however, to receive the maximum stimulus rebate of $1,750, eligible beneficiaries must be over the age of 65 years old, be a homeowner and resident of New Jersey, and receive an annual income of less than $150,000. The application deadline is October 31.
States continue to make the cost of living more affordable
Initiatives like the ANCHOR program are intended to ease the burden of cost-of-living expenses, particularly for those who are economically vulnerable, such as low-income residents and senior citizens. Homeowning and renting have become increasingly more expensive, particularly for new young professionals. By providing stimulus programs that directly address this, it provides homeowners and renters with slightly more leniency regarding their homeowning expenses.
Similar to ANCHOR, New York State is also underway with its own property tax rebate program via the School Tax Relief (STAR) program. There are two versions of STAR that New Yorkers can apply for, and payment amounts will be dependent on your income level, with eligible beneficiaries expected to receive payments from now until the end of the year. New York is one of the most expensive states in the country to live in, with New York City in particular being infamous for very high property and rental prices.
Disclaimer: Our coverage of stimulus checks, tax reliefs, tax rebates, tax credits, and other payments is based on the official sources listed in the article. All payment amounts and dates, as well as eligibility requirements, are subject to change by the governing institutions. Always consult the official source we provide to stay up to date and obtain information for your decision-making.
