According to information released by Governor Gavin Newsom’s office earlier this week, more than half of Californians may soon receive stimulus cheques from the state.
Later this fall, an estimated 23 million eligible Californians will get payments totaling up to $1,050 each as part of a $17 million inflation relief scheme. A state budget surplus of a record-breaking $97 billion will be used to pay for the relief program.
In a tweet posted on Sunday, Governor Newsom referred to the package as a “middle-class rebate,” writing, “That’s more money in your pocket to help you fill your gas tank and put food on the table.”
How payments will be made
Each California resident’s income and the number of their dependents will determine if they are eligible. According to a preliminary overview of the planned budget, the amounts are based on three tiers for either single or joint tax filers:
Individual taxpayers will receive:
$350 if their per year income is under $75,000
$250 if their annual income is between $75,001 and $125,000.
$100 if their per year income is between $125,001 and $250,000.
Joint tax filers are entitled to:
$700 if their per year income is under $150,000.
$500 if their annual income is between $150,001 and $250,000.
Those who make between $250,001 and $500,000 will receive $400.
As reported by CNBC, single and joint filers will receive an additional sum of $350, $250, or $200, depending on their tier if they have at least one dependent.
According to a Newsom administration official, checks will be delivered via direct deposit or debit card by the end of October, according to Sacramento NBC affiliate TV station KCRA.
Additionally, starting on October 1st, the state will defer the 23-cent per gallon fuel sales tax for an entire year. Funds will be set aside for rent and utility expense alleviation initiatives, as well as for local transportation infrastructure projects.
