Californians set up to $ 1,050 on "inflation relief" checks

Approximately 23 million California residents up to 1,050 after Governor Gavin Newsom signed $ 308 billion on Thursday You will receive a dollar "inflation relief" check. State budget including payment. The

check is part of a $ 17 billion relief package that suspends state sales tax on diesel fuel and provides additional support to help pay rent and utilities. statement. Inflation relief checks are tax refunds that total $ 9.5 billion to state residents. The

agreement is that California drivers face the highest gasoline prices in the United States and the average price of one gallon of gasoline in the state. Is true because is $ 6.27. Friday — or about 29% higher than the national average. Earlier this year, Newsome suggested thatsenda $ 400 stimulus check per vehicle with caps to state residents. .. However, other lawmakers have requestedto plan to provide larger checks to low-income people.

"Face new challenges and uncertainties We are providing more than $ 17 billion in relief to help families achieve their goals, "Newsam said in a statement Thursday.

California residents can use this "middle class tax refund calculator to verify their eligibility."

Tax refunds will definitely beat the higher costs of pumps, but injecting more cash into the economy when inflation is running at the height of40 years. It also raises questions about the impact of tax refund. Economists believe that the combination of government stimulating spending (such as direct family payments and corporate loans) and supply chain issues contributes to the current inflation crisis.

The California plan works as follows: 

Where does the money come from?

Checks are designed as tax refunds and result from the state's record$ 97 billion budget surplus. 

Who is subject to the inflation relief check?

Payments are similar to stimulating checks sent by the federal government in that they are based on income, tax filing status, and household size. 

Low- and middle-income Californians are in a position to receive the largest checks. 

So, with a total income of $ 125,000, a couple with two children is eligible for $ 350 per adult and $ 350 for a child, for a total of $ 1,050. 

What about high-income Californians?

High-income residents receive a small payment. 

• Single taxpayers between $ 75,000 and $ 125,000 per year, and couples with incomes between $ 150,000 and $ 250,000 pay $ 250 plus the same payments to their dependents. Receive up to $ 750 per family. 
• Singles with an annual income of $ 125,000 to $ 250,000 and couples with an annual income of $ 250,000 to $ 500,000 each receive $ 200 plus the same amount for their dependents. This is equivalent to paying up to $ 600 per family. 

What about families who earn more than $ 500,000?

Couples with incomes over $ 500,000 and single taxpayers with incomes over $ 250,000 are not eligible for payment.According to Sacramento Bee.

When will the check be issued?

Checks will be sent directly in October by deposit or debit card, the governor said Thursday. 

In:
• Stimulation Check
• California
• Tax refund