Approximately twenty states are refunding state taxpayers and/or reducing sales or income taxes. For example, the Massachusetts Department of Revenue will be refunding state income taxpayer's 14% of their 2021 state liability based upon a MA law (62F).

See: https://www.mass.gov/news/distribution-of-excess-tax-revenue-refunds-begins-november-1-2022

6.

How will this impact consumer spendable income in the states issuing tax rebates or tax liabilities? Will these measures likely impact consumer savings or consumer spending? Will the actions of these 20 states likely reinforce or counteract the current Federal Reserve policy measures?