California Gov. Gavin Newsom announced that as part of a new state inflation relief package, 23 million Californians will be receiving up to $1,050 stimulus checks to aid in inflation costs.
The framework: California officials announced the framework of the $17 billion inflation relief package on Sunday. The package will include:
- Stimulus checks of up to $1,050 for 23 million California residents.
- A suspension of the state tax on diesel.
- Additional funds to help people pay rent and utility bills.
“That’s more money in your pocket to help you fill your gas tank and put food on the table,” the governor tweeted.
Where will the money come from? CBS News reports that the checks, designed as tax refunds, are coming from California’s $97 billion budget surplus.
How much money will each person get? ABC 7 Los Angeles says that the details were still being negotiated, but the current framework proposes that about $9.5 billion will go back to taxpayers.
- Single people who earn less than $75,000 annually and couples that file jointly and make less than $150,000 in a year will receive $350 per taxpayer, plus $350 for each dependent. A married couple with one child will receive $1,050.
- Single people who make between $75,000 and $125,000 annually and couples who make between $150,000 and $250,000 in a year will get $250 each, plus $250 for each dependent.
- Single people who make between $125,000 and $250,000 yearly and couples who earn between $250,000 and $500,000 will get $200 each, plus $200 for each dependent.
When is the money coming? According to Fox 40 Sacramento, the payments should hit Californians’ bank accounts by late October.
- The suspension of the sales tax on diesel will go into effect on Oct. 1 and last for one year, saving 23 cents per gallon.