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WASHINGTON (AP) — Democrats pared part of their proposed minimum tax on huge corporations and made other changes in their giant economic bill, Senate Majority Leader Chuck Schumer said Friday, as they drove toward delivering a campaign-season victory to President Joe Biden on his domestic agenda.

In an unusual peek at closed-door bargaining, Schumer, D-N.

Y., said Democrats dropped a proposed tax boost on hedge fund executives after pivotal centrist Sen. Kyrsten Sinema, D-Ariz., said she would otherwise vote “no.” Schumer said that in its place, the measure now has a new tax — which others said will be 1% — on the shares companies buy back of their own stock, netting the government far more revenue.

“Sen. Sinema said she would not vote for the bill” or even vote to let debate begin unless private equity tax was removed from the legislation, Schumer told reporters. “So we had no choice.”

He spoke a day after he and Sinema announced compromise revisions to the environment, health care and tax package. With final numbers still to be calculated, the overall measure raises over $700 billion in revenue — including more robust IRS tax collections — using most of it for energy, climate and health initiatives and reducing federal deficits by $300 billion.

The accord puts Democrats on the verge of a more modest yet striking resurrection of many of Biden domestic aspirations that appeal strongly to party voters. Those include taxing big business, restraining prescription drug prices, slowing climate change, helping families afford private insurance and trimming federal deficits.

In another change, Schumer said a proposed 15% minimum tax on mammoth corporations had been trimmed and would now raise $258 billion over the coming decade, down from $313 billion. That provision, which has been the legislation’s biggest revenue raiser, will now let those companies depreciate their equipment costs more quickly, lowering the government’s tax take and helping manufacturers who buy expensive machinery. The new tax is expected to apply to around 150 companies with income exceeding $1 billion.

Democrats plan for the Senate to begin considering the bill Saturday, and the House will return next Friday for votes. The measure is sure to face unanimous Republican opposition in the 50-50 Senate, where the backing of Sinema and all other Democrats will be needed for passage, along with Vice President Kamala Harris’ tie-breaking vote.

“This bill is a game changer for working families and our economy,” Biden said at the White House.

Republicans say the measure will worsen inflation — a premier concern of voters — discourage companies from hiring workers and raise already high energy costs with its taxes.

“The pain at the pump is going to get worse, and it’s not just on the cost of energy to drive your car,” said Sen. John Barrasso of Wyoming, the Senate’s No. 3 GOP leader. “It’s also the energy to heat your home, energy that powers our country, energy for electricity.”

Nonpartisan analysts have said the legislation will have a modest impact on inflation and the economy.

“We’re feeling pretty good,” Schumer said about the legislation. “It’s what the country so desperately needs. And it’s what Democrats will deliver on in the coming days.”

The measure will also include money sought by Sinema and other Western senators to help their states cope with historic drought conditions, Schumer said. Those lawmakers have sought $5 billion to help address water scarcity and wildfires, but it was unclear Friday how much would be included in the bill.

Still other changes are possible. The Senate parliamentarian, Elizabeth MacDonough, is expected to soon say whether some provisions violate the chamber’s budget procedures and should be erased. Democrats are using special rules that would let them overcome GOP opposition and pass the package without needing the 60 votes most bills require.

Potentially vulnerable provisions include language requiring pharmaceutical makers to pay penalties if they raise prices above inflation for drugs that patients get from private insurers.

The bill faces a long weekend, including a “vote-a-rama” of unlimited, non-stop votes on amendments, which will mostly come from Republicans. Most are destined to lose, though the GOP hopes some will box Democrats into votes that would create campaign-ad fodder.

Taxing executives of private equity firms, such as hedge funds, has long been a goal of progressives. Under current law, those executives can pay significantly less than the top 37% individual tax rate on their income, which is called “carried interest.”

That measure was also a favorite of conservative Sen. Joe Manchin, D-W.Va., a long-time holdout against larger versions of Biden’s domestic plans who helped write the compromise legislation with Schumer.

But progressives also support taxing publicly traded companies that buy back their own stocks, a move that critics say artificially drives up stock prices and diverts money from investing. The buyback tax will net $74 billion over 10 years, much more than the $13 billion the “carried interest” plan would have raised.

In a breakthrough Thursday night, Sinema said she’d agreed to changes in the legislation and was ready to “move forward” on the bill. In his own statement, Schumer said he believed the agreement “will receive the support of the entire” Democratic membership of the chamber.

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Sixteen direct payments worth up to $1,700 remaining to go out to Americans in 2022 – see the exact deadlines

TENS of millions of Americans are still in line to receive direct stimulus payments before the end of the year.

While the federal government has balked at approving another nationwide relief check, more than a dozen states are sending cash in 2022.

1Billions of dollars in relief funds and rebates will be sent to taxpayers before the end of 2022

Some state lawmakers approved relief packages in the face of record-high inflation.

In addition to rebates and stimulus checks, certain states chose to provide relief by expanding tax credits.

In other states, massive budget surpluses automatically triggered tax refunds for residents.

If you live in one of these locales, here's how much you can expect to get this year, and when to look out for a check.

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Maine has been sending out rebate checks worth $850 per individual and $1,700 for an average family.

The state distributed the majority of payments in June and July.

However, some rebates will take some time to hit mailboxes.  

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Governor Janet Mills' office said that checks will continue to go out on a rolling basis through the end of 2022.

To qualify for a rebate check, you must meet a few requirements. 

As far as income goes, an individual must not exceed $100,000, while heads of the household and couples can make up to $150,000 and $200,000, respectively.

These will be based on 2021 tax returns, which must be filed by October 31. 

2. Pennsylvania - $1,658

Direct deposit payments for Pennsylvania's property tax rebate program started going out on July 1.

Beneficiaries of the program include the following:

  • 65 years and older
  • Widows and widowers age 50 and older
  • Disabled and 18 years or older

The maximum standard rebate is $650, but some homeowners may qualify for supplemental rebates of up to $975.

Renters and homeowners who make $8,000 or less will get a $650 rebate.

Those making $8,001 to $15,000 will get $500.

The rest of the rebates per income range is as follows:

  • Homeowners making $15,001 to $18,000: $300
  • Homeowners making $18,001 to $35,000: $250

In addition, the state announced that everyone who claimed a rebate will also receive an additional check worth 70% of the initial refund amount.

That means anyone who qualified for $975 is now in line to take in $1,657.50 total.

If you haven’t claimed yet, you can apply online until the end of the year.

3. Colorado – $1,500

While the deadline for Coloradoans to file a return and receive their refunds over the summer has passed, they can still claim the money – but will be in for a longer wait.

Those who filed their taxes by June 30 are in line to get their refund checks in late August.

If you file by the October 17 extended deadline, you can expect to get your money in January.

The rebates are worth $750 for individuals, while the amount for joint filers is $1,500.

Around 3.1million residents are in line to get money, according to Governor Jared Polis.

4. Hawaii - $1,200

Thousands of Hawaii residents are set to get a one-time tax refund next month.

Those making less than $100,000 annually will receive a $300 rebate.

Workers who earn between $100,000 and $200,000 are in line for $100.

According to Hawaii’s Department of Taxation, the refunds are expected to start going out during the last week of August.

Those getting paper checks will need to wait three to four weeks for the money to arrive.

5. California - $1,050

California Governor Gavin Newsom signed the state's budget in June, which included $17billion worth of inflation relief in form of tax rebates. 

Roughly 23million people are in line for payments of $200 to $1,050.

According to California's Franchise Tax Board, payments will be distributed between October 2022 and January 2023.

Eligibility and payment amounts are dependent on income, tax filing status, and household size.

The state has an estimator that can help you determine your eligibility and see how much cash you can expect to receive.

Plus, The Sun put together a table that explains who will get money, and how much cash they'll see.

6. Rhode Island - $750

Rhode Island Governor Daniel McKee said families will be able to receive up to $750 in a child tax rebate.

Any Rhode Island taxpayer with dependents 18 or under is eligible for the credit, and no application is necessary.

Taxpayers who filed by August 31 will start receiving rebates in October.

For those taking advantage of the October 17 extended filing deadline, rebates will be issued starting in December.

All rebates will be sent by check, and there will be no direct deposits.

7. Connecticut - $750

Connecticut approved child tax credits of $250 per child in a household, with a maximum credit of $750, but families had to apply by July 31.

The following income guidelines had to be met to qualify for the credit:

  • Single or married and filing separately: $100,000 or less
  • Head of household: $160,000 or less
  • Married filing jointly: $200,000 or less

The rebate will be reduced by 10% for every $1,000 a household earned over those thresholds, according to the state.

Any Connecticut parent who claimed at least one child, 18 or younger, on their 2021 taxes can get the child tax credit.

You can find more information on the child tax credit program from the Connecticut Department of Revenue Services.

Governor Ned Lamont said he expects payments to go out in August.

8. Georgia - $500

Governor Brian Kemp signed House Bill 1302, ensuring that the Georgia Department of Revenue will credit residents with a one-time refund after filing their taxes.

Refunds started going out in May and more than 90% of taxpayers have gotten their money.

But, officials have revealed that more payments are going to be sent out by the end of August, according to WSB-TV.

If you’re married or filed with your spouse, you can expect $500.

Heads of households will receive $375, while single filers and couples that filed separately will get $250.

9. New Mexico - $500

This week, New Mexico residents should have received their final state-issued relief checks.

New Mexican residents who filed taxes individually got $250 and couples who filed jointly received $500.

Unlike the previous rebate, a resident's income level won't affect the amount of the cash payout.

All payments should have been transferred into residents' bank accounts by direct deposit in the first few days of August.

10. Virginia - $500

The Virginia General Assembly approved a tax rebate for eligible residents.

Virginia residents who filed their taxes before July 1, 2022, are likely to receive their tax rebate during September or October of this year.

A resident's tax liability, which is the amount of taxes owed minus any credits throughout the year, will determine if they receive the one-time payment.

Individual taxpayers will be eligible to get a payment worth up to $250, WJLA reported.

Meanwhile, couples who filed their taxes together can receive a payment, worth up to $500.

Residents who think they may qualify for the tax rebate must file their taxes by November 1 if they haven't already, according to the Virginia Department of Taxation.

11. Florida - $450

Around 60,000 eligible residents in Florida will be automatically sent a payment worth $450.

Checks should arrive by August 7, according to the Florida Department of Children and Families.

The payments are part of a program named "Hope Florida - A Pathway to Prosperity."

Governor Ron DeSantis penned in a letter: "This one-time payment can be used for anything from buying diapers to fueling at the pump."

12. Delaware - $300

In April, Delaware lawmakers agreed to send $300 to any residents who filed a tax return in the state in 2020 or 2021.

While the state hoped to send all of them out in May, the Delaware Department of Finance said that many taxpayers have been left out.

As many as 150,000 Delawareans may still be waiting on the $300 rebate, finance secretary Rick Geisenberger told Delaware Public Media.

It would mean that nearly 20% of taxpayers who qualified for the rebate have not yet gotten it.

He added that the department hopes to send another 50,000 to 100,000 checks between August and October.

13. Illinois - $300

Governor JB Pritzker revealed that Illinoisans will receive at least $50 as part of an income tax rebate.

Joint tax filers will receive $100 and families with three dependents can get up to $300.

Single taxpayers will get $50, but must not earn more than $200,000 in order to qualify for the rebate.

The cash is part of the Illinois Family Relief plan, which was approved in April, and payments are expected to be sent starting the week of September 12.

14. Indiana - $250

Millions in the state of Indiana started to receive their rebate payments in May.

The refunds are worth $125 per individual and $250 for married couples.

Approximately 4.3million Hoosiers will receive the $125 payment, about 85 percent of the state's adult population. 

Direct deposits have begun going out and will continue to through the summer, while residents who opted for a paper check can expect those to arrive in August.

Any taxpayer who filed their 2020 taxes before January 3, 2022, qualifies for the cash.

Hoosiers may also be in line for an additional $200 thanks to a new rebate plan.

15. Idaho - $75

Earlier this year, Idaho approved a bill allocating $350million for tax rebates.

To qualify, you must be considered a full-time resident and have filed tax returns for 2020 and 2021.

Additionally, full-time Idaho residents must have filed grocery-credit refund returns.

The rebates began going out in March and will provide $75 or 12 percent of your 2020 Idaho state taxes.

Anyone who hasn't filed a tax return must do so by December 31 to claim the cash.

Idaho residents can check the status of their rebate here.

16. Missouri - amounts vary

Drivers in Missouri can claim gas refunds based on what they spent at the pump between October 1, 2021, and June 30, 2022.

Those seeking a gas rebate in the state must file an application with the Missouri Department of Revenue (DOR) by September 30. 

You’ll need to have your vehicle identification number and include the total gasoline gallons for each vehicle during the eligible period. 

Ideally, you’ll want to have your receipts from prior gas station visits on hand. 

All cars that weigh 26,000 pounds or less are eligible for a refund.

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The Sun also explained how you can find out if you're owed stimulus money.

Plus, a budget proposal in New Jersey would offer more than 100 residents monthly payments of $400.

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