Whereas no federal laws has been handed to supply Individuals with a fourth stimulus examine, one Democratic governor not too long ago introduced laws that can quick observe a fee to all eligible state residents.

On Monday, Colorado Governor Jared Polis and the state's Legislature proposed the Colorado Cashback program, which can present eligible residents with a $400 fee this summer time.

The announcement by Polis comes amid an increase in inflation throughout the U.S., with a report from the Labor Division displaying that inflation elevated by 8.5 p.c in March in comparison with the earlier 12 months, which is the best enhance in over 40 years.

Stimulus Checks
Colorado Governor Jared Polis introduced on Monday that eligible state residents will obtain a $400 tax rebate this summer time. Above, financial stimulus checks are seen on the Philadelphia Monetary Heart Could 8, 2008, in Philadelphia.Jeff Fusco/Getty

"Individuals are paying extra for on a regular basis objects like gasoline, groceries, and hire by no fault of their very own," Polis stated in a press release on Monday. "As an alternative of the federal government sitting on cash that Coloradans earned, we need to give everybody money again as rapidly and simply as attainable to supply instant reduction and empower folks to do what they need to with their cash."

Based on the announcement, the state shall be offering eligible residents with tax rebate checks as soon as they file their 2021 state tax returns by Could 31.

"The Colorado Cashback will present a flat quantity of $400 for a single filer or $800 for a joint filer. The proposal being launched on the legislature will give instant reduction to Coloradans, offering tax refunds by September 15 of this 12 months, as a substitute of the Spring of 2023," the assertion from Polis' workplace stated. "All eligible Colorado earnings tax filers will obtain their rebate instantly within the mail in August or September."

Within the announcement, Polis cited the "impacts of inflation and the price of residing" as causes for the tax rebate program.

Colorado's Majority Chief Daneya Esgar applauded the Cashback program, saying, "Refunding $400 or $800 now to each taxpayer in our state will instantly assist employees and center class households who're feeling the rising prices of on a regular basis objects."

Esgar continued, "Individuals are working tougher and tougher to earn sufficient cash to pay for what they want. We acknowledge this, and we're taking motion by making our tax code extra truthful. Placing your a reimbursement in your pocket will assist all areas of the state, together with rural Colorado, and people communities who're nonetheless struggling to recuperate."

Along with Colorado, a number of different states have moved to supply residents with further financial funds. Governors in Georgia, New Mexico, Indiana, Idaho and New Jersey have authorized laws offering eligible residents with more cash after they filed their tax returns.

Newsweek reached out to Polis' workplace for remark.