Millions of Californians could be eligible for payouts of up to $1,050 this year. The framework for the 2022–2023 state budget, which includes stimulus payments to assist residents in dealing with increasing inflation and gas costs, was agreed upon by California Governor Gavin Newsom and state legislators.
Newsom explained in a press release that “California’s budget addresses the state’s most pressing needs, and prioritizes getting dollars back into the pockets of millions of Californians who are grappling with global inflation and rising prices of everything from gas to groceries. The centerpiece of the agreement, a $17 billion inflation relief package, will offer tax refunds to millions of working Californians. Twenty-three million Californians will benefit from direct payments of up to $1,050.”
According to the plan, state residents who earn less than $75,000 annually or couples who earn less than $150,000 annually would get $350 per taxpayer, with the possibility of an extra $350 if a couple has at least one dependent. Married couples with at least one kid would be paid $1,050 based on these requirements. As a person’s income bracket increases, payments will decrease. Couples making less than $250,000 annually or individuals making less than $125,000 annually would each get $250. A household would get an extra $250 if it had at least one dependent, increasing the total amount provided by the government to $750.
Couples earning less than $500,000 annually or single state residents earning less than $250,000 annually would each get only $200, plus an extra $200 if they have dependents. Residents are scheduled to receive the payments by the end of 2022. Governor Newsom also announced that the state will suspend its state sales tax on diesel for a year beginning on October 1.