This summer, taxpayers across the country will be receiving some extra cash courtesy of the United States government in the form of economic stimulus checks, and Roosevelt County businesses may soon begin to reap the benefits.
Congress and the Bush administration hope the extra money, an amount between $300 for singles and up to $1,600 for families, will help kick-start the economy, but many people in Portales may not be immediately putting the funds back into the economy.
Taxpayers who receive their rebate through direct deposit got their money from early to mid May, while the live checks are sent on a schedule, from May to July, based on Social Security numbers.
Daniel Boan runs the service desk at a Portales grocery store, and even though he hasn’t seen a lot of the checks come through, he has noticed an up-tick in business.
“There’s a lot more people shopping,” Boan said. “I haven’t really got a lot of the stimulus checks. Some people cash them here and go get gift certificates to buy groceries or go get gas. I haven’t seen them, but I have seen business pick up.”
Many Portales residents have already received their checks, but residents like Meb Bolin don’t see an immediate need to spend it.
“I have gotten it, just this last week (as a) matter fact,” Bolin said. “As to how I’m going to use it, it will just go into the banking account until needed.”
Others will simply pay normal expenses or finance repairs.
“I ain’t got it yet,” Portales resident Gene Youngblood said. “(But when I do get it, I’m going to) pay off my light bill.”
“I haven’t even filed my taxes yet,” David Curnes said. “But I’ll probably fix the motor home I blew up last month.”
More than 130 million households across the country will receive the stimulus check. Eligible taxpayers have a valid Social Security number, earnings of at least $3,000 last year and a filed 2007 tax return.
“I think it will do a little good,” Bolin said. “It will provide a little stimulus, and of course it will be comfortable for everybody.”
“It might (work),” Curnes said. “The economy’s got to do something soon.”
Live check payment schedule
(Last two digits of SSN)