While the United States federal government is no longer sending out stimulus money at this time, some states, such as California, have stepped up to send residents more money during 2022.
According to Governor Newsom, millions of Californians– 23 million to be exact – will benefit from up to $1,050, to help cover rising costs. (source)
California will be sending out inflation relief payments to residents starting in about a month and a half during October 2022. Payments will vary in amount depending on your income level, filing status and whether or not you have dependents. In general, per state guidelines, individuals earning under $75,000 will receive $350. For couples with incomes of $150,000 or less, they will receive $700. Payments go up if you have dependents, and they decrease if you earn more than these limits. The overall maximum amount of inflation relief payment is $1,050.
The Middle Class Tax Refund is a one-time payment to provide relief to Californians. If you are eligible, you will automatically receive a payment. Payments are expected to be issued between October 2022 and January 2023. To find out more information, click here to use the handy state of California calculator tool.
What do you think of this news about the inflation relief payment from the state of California?
Are you relieved or excited to get your payment?
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Disclaimer: Please note that the information in this article for NewsBreak is only for educational and informational purposes.