What Your Stimulus Check Will Buy You in New Jersey
As it stands now, the stimulus checks the federal government will be sending out in response to the coronavirus crisis breaks downs as follows.
If you’re single...
Income / Check
$75,000 or less / $1,200
$80,000 / $950
$85,000 / $700
$90,000 / $450
$95,000 / $200
$99,000+ / $0
If you’re married...
Income / Check
$150,000 or less / $2,400
$160,000 / $1,900
$170,000 / $1,400
$180,000 / $900
$190,000 / $400
$198,000+ / $0
All this is based on you 2019 federal tax return. From CNN here is an even deeper breakdown of what you’ll get.
So what could a married couple do with that $2,400 stimulus check?
Since the average NJ property tax bill is $8,953, you pay 97 days worth of property tax. (Still no help from Jersey politicians on the other 268 days.)
Gas prices fluctuate and cars are different but I would be able to fill the tank in my SUV about 60 times. Of course, we’re told to not go anywhere, so...
A large pizza delivered to your door might run you around $24 so you could get 100 of those.
A 144 count box of diapers might run you $49 so you could score 48 of those.
For the people out of work due to the shutdowns, how much is this really going to help them? Paying your rent or mortgage or any other bills will be prioritized behind feeding your family. In New Jersey a family of four can easily spend $150 a week on groceries. It’s great the federal government is offering this relief. It’s only going to do a little to help those who were forced out of work. Let’s hope this nightmare is behind us sooner than later.