California is planning to give stimulus checks to an estimated 23 million people in the fall as part of an inflation relief package.
The checks will entail a stipend of up to $1,050 for people who file jointly and have one or more dependents. Funding for the $17 billion initiative stems from the state’s record-breaking $97 billion budget surplus.
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“Millions of Californians will be receiving up to $1,050 as part of a NEW middle class tax rebate. That’s more money in your pocket to help you fill your gas tank and put food on the table,” Gov. Gavin Newsom (D-CA) wrote in a tweet announcing the initiative last month.
Checks will be issued either through a debit card or direct deposit by late October, a California official explained, per KCRA. The eligibility for the checks will be determined by a person’s income and whether they are single or joint tax filers.
For single filers, Californians will receive $350 if they earn under $75,000 a year, $250 if they earn in the range of $75,001 and $125,000 a year, and $200 if they earn in the range of $125,001 and $250,000, CNBC reported.
For joint filers, Californians will receive $700 if they earn under $150,000 a year, $500 if they earn in the range of $150,001 and $250,000 a year, and $400 if they earn in the range of $250,001 and $500,000 a year.
Californians will also receive an additional $350, $250, or $200 based on their tier if they have at least one dependent.
In addition to the stimulus checks, Newsom previously announced plans to suspend the state sales tax on diesel, roughly 23 cents per gallon, beginning Oct. 1 and lasting for 12 months.
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Skyrocketing inflation has been hitting people’s wallets hard over recent months, with the consumer price index figures for the 12 months ending in June exploding to 9.1%. Many political analysts believe the unbridled inflation figures have contributed to President Joe Biden’s lackluster polling heading into the midterm elections.
Part of the high inflation figures comes from high prices at the gas pump. The current national average sits at $4.495 a gallon, with California averaging $5.871 a gallon, according to the American Automobile Association.
