New inflation relief package gives California residents up to $1,050

Jake Wells
man counting money in handsPhoto by Alexander Mils (Unsplash)

Here is some great news for residents in California. You will be receiving an inflation relief package that will help you with bills and rising costs. The current inflation rate for the United States is 8.6% and the state of California is doing something to help you with these rising costs.

Governor Gavin Newsom, Senate President pro Tempore Toni G. Atkins and Assembly Speaker Anthony Rendon reached an agreement on the framework for the 2022-23 state budget.

The focus of the budget is on giving dollars back into the pockets of millions of Californians who are facing inflation and rising prices on everything from gas to groceries.

Here's How Much Money You Will Receive

A $17 billion inflation relief package is the main focus of the 2022-23 state budget. This inflation relief package brings tax refunds to millions of residents of California. Specifically, twenty-three million Californians will benefit from direct payments of up to $1,050. No more details have been disclosed at this time, but you can visit the governor's website here for more updates.

In addition to the cash payments, this package will also include a suspension of the state sales tax on diesel fuel. The state of California has a tax rate of 13% on diesel, so this is a significant amount of money.

What do you think about this news regarding the inflation relief package?

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Disclaimer: Please note that this article is only for educational and informational purposes.

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