Coloradans To Receive Stimulus Checks This Summer

DENVER, CO — Gov. Jared Polis, along with leadership from the House and Senate, announced Monday that Coloradans will receive a $400 stimulus check in August or September of this year.

The stimulus is available to full-time Colorado residents who have filed their 2021 tax returns by May 31, according to a news release. Approximately 3.1 million Coloradans are eligible for the rebate.

"Coloradans are up against high rates of inflation and a rising cost of living — and they’re feeling the pinch," said Senate President Steve Fenberg (D-Boulder). "This year, we’re able to extend much-needed support to families and individuals in the form of direct relief to taxpayers. We’re helping Coloradans make ends meet during this challenging time by putting money directly back into their wallets."

The legislation, designed to help Coloradans combat the rising costs of everyday necessities, will provide $400 for a single filer or $800 for a joint filer, according to the news release. The state's strong economic rebound — which includes more than a 100 percent recovery rate of jobs lost during the pandemic and a 3.7 percent unemployment rate — has led to a "record state surplus."

This surplus will be returned to taxpayers in several ways, according to the release. The first of these is a reduction in the income tax rate, a senior homestead exemption, the Colorado Dividend and a six-tiered sales tax rebate for next year.

"Refunding $400 or $800 now to every taxpayer in our state will immediately help workers and middle-class families who are feeling the rising costs of everyday items," said Majority Leader Daneya Esgar (D-Pueblo). "People are working harder and harder to earn enough money to pay for what they need. We recognize this, and we are taking action by making our tax code more fair."

The Colorado Cashback program is the latest in a line of tax reform bills passed by the legislature and signed by Polis in the last year, including free full-day kindergarten, according to the release.

"People are paying more for everyday items like gas, groceries and rent through no fault of their own," Polis said. "Instead of the government sitting on money that Coloradans earned, we want to give everyone cash back as quickly and easily as possible to provide immediate relief and empower people to do what they want to with their money."