State to issue one-time stimulus payments to hardest-hit Coloradans
DENVER (KRDO) -- Governor Jared Polis announced Wednesday afternoon that the state will issue one-time direct payments to Coloradans that are struggling financially due to the coronavirus.
Since unemployment benefits dried up on September 5, many people in Colorado have been struggling to pay their bills, according to the governor's office. The new executive order authorizes the state to send checks of $375 to almost 435,000 Coloradans in early December.
“Washington D.C has failed to act to provide additional direct cash support for hardworking Coloradans and to further stimulate the economy, so today Colorado is boldly doing our part to help our own," Polis said.
The governor said the executive order was created with the help of the Joint Budget Committee and legislative members in Colorado.
The order states that $168 million will be available through the following funds: $148.9 million from the General Fund from the Medical Services Premium line; $13.8 million in existing funds in the Disaster Emergency Fund; $5.3 million from the Controlled Maintenance Trust Fund. After these allocations, the State Emergency Reserve will still have a remaining balance of about $150 million.
The checks will only go to "qualifying individuals experiencing economic hardships caused by COVID-19 in Colorado." Qualified individuals are those who received unemployment benefits between March 15 and October 24 this year, according to the executive order.
