The state of Alabama plans to issue up to $200 in one time-payments after a $2 billion in excess from tax revenues in 2022. However, Alabama Governor has not yet released a state budget plan for 2023.
In 2022, the state of Alabama has collected tax revenues with a total of $10 billion. It is $2 billion higher than what was expected and could be caused by the demand for gas and shopping in the state. State Senator Arthur Orr has previously announced that the $2 billion in excess budget could be distributed to the residents for a $150 to $250 tax rebate. Unfortunately, state representative Rex Reynolds if the state legislature approves the tax rebates, it will only be a one-time payment.
According to Russo, Republicans who control the legislature, however, are not yet fully on board with the plan. Alabama Governor Kay Ivey has also not yet released a state budget plan for 2023. It is still undecided if the plan will come with income limitations. Ivey added that she would consider the possibilities of the plan in October this year.
Other Payments For Alabama
According to Russo, fortunately for Alabama residents, there are other payments they have enjoyed and will be enjoying. In 2022, a $200 tax rebate was provided by the energy company Alabama Power. Furthermore, the Internal Revenue Service (IRS) has also issued $1,200 in tax refunds to 12 million taxpayers. This is after the IRS has completed processing those who did not claim unemployment exclusions worth up to $10,200.