INDIANAPOLIS – Hoosiers could get another $225 to help them deal with high gas prices and inflation.
Gov. Eric Holcomb announced a plan Thursday to return $1 billion from the state reserves to Hoosier taxpayers in an effort to help with rising prices.
The payments are possible because of a higher-than-expected revenue performance during the fiscal year, the governor said.
According to Holcomb’s plan, taxpayers would get about $225 apiece. That’s in addition to the $125 payments being processed as part of the Automatic Taxpayer Refund (ATR).
With the payments combined, individual Hoosiers would get about $350 while couples filing jointly would get about $700.
Holcomb has outlined his plan with legislative leaders and said he’s committed to calling a special session to “align the second round of returns with our current ATR.”
Felicia Nino of Fort Wayne says the plan would have a big impact on some, but it would just be a temporary fix.
“For some $225 will make a difference. Being a one time, it’s not going to make that big of a difference. The immediate I think it will help, but in the long run I don’t think it’s going to help because of inflation the way it is and it’s going to go up more maybe,” Nino said.
Erin Hall of Fort Wayne agrees, but thinks every cents counts for those who are struggling.
“I think money is money. I think $225 for some families that live paycheck-to-paycheck that are making minimum wage. I mean $225 is a lot of money so I think anything helps,” Hall said.
If the legislature approves the governor’s plan, the additional money would be distributed just like the Automatic Taxpayer Refund. For those receiving paper checks in August, a single check of $350 would be sent for individuals or $700 for those filing jointly.