As part of Governor Gavin Newsom’s effort to help many middle-class families who have been negatively impacted by high gas costs, over 23 million Californians are set to get an “inflation aid” check within the next few days.
According to the governor earlier this year, the stimulus payments are a component of a $17 billion aid plan that also halted the state’s taxation on diesel fuel as well as offered more money to help families with their rent and electricity bills.
Gas Price Decreased
There are at least 20 additional states that provide financial assistance to their inhabitants, so California is not the only one creating stimulus payments and refunds for citizens to assist them in dealing with inflation.
Even though gas prices have decreased since their record level in June, motorists in California continue to pay the most on average for a gallon of petrol, per AAA data. In contrast to the national average gas price of $3.92, California’s average price of gas is $6.33 a gallon.
Residents with higher incomes will be given smaller amounts. For a total of $500, single taxpayers who earn from $75,000 to $125,000 annually will receive $250 and the same amount for each dependent.
Couples making from $150,000 to $250,000 will be eligible for $500, with an additional $250 for dependents, for a total of $750.The refund amounts decrease with income until they completely disappear for those making more than $500,000.
Payments Being Received By Citizens
People started getting money on Friday, either in the form of a debit card they received in the mail or even a direct deposit into their bank account. However, it can take many days or even weeks for the payment to show up.
Nevertheless, the California Franchise Tax Board estimates that 90% of customers who get direct deposits will get their money by the end of October. Some customers claimed to have gotten their paychecks via bank transfer on Friday on social media, while others claimed to still be waiting.
The payments are determined by family size and income. Couples filing jointly who make below $150,000 annually and single taxpayers making less than $75,000 annually will each receive $350.
In other terms, a duo with two kids and a combined income of $125,000 would be eligible for $350 for each adult and $350 for each of their kids, for a sum of $1,050 reports CBS News.
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