The approved state relief budget is $12 billion of this money $9.5 billion is for refunds. Gavin Newsom is the Democratic Governor of California. Gavin said this in a statement. (source)
"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 payments will get sent out in October. The last ones should arrive in the middle of January 2023. (source)
Three tiers of taxpayers will benefit. (source)
- Single taxpayers qualify if their income is less than $75,000. And couples who filed jointly and made less than $150,000. These two groups will receive $350 per taxpayer and another flat $350 if they have any dependents. The amount got capped at $1,050.
- Individual filers earning between $75,000 and $125,000. Plus, couples who earned between $150,000 and $250,000. These two groups will get $250 per taxpayer and another $250 if they have any dependents. The amount got capped at $750.
- Individual filers earning between $125,000 and $250,000. And couples who earned between $250,000 and $500,000 would receive $200 each. The max benefit is $600.
What do you think?
Share your thoughts in the comments, and feel free to share this article on social media and with your friends and family.
*Disclaimer: This article is for informational purposes only. This article got written using accredited media reports.*