Residents of California have been a bit confused as the Middle-Class Tax Stimulus Check Rebate has not been deposited into their accounts as quickly as they had hoped. Over 23 million people will get the inflation relief payment that is expected to cover over 60% of the state population.
The state budget was signed by Governor Gavin Newsom back in June and the $308 state budget provided direct tax refunds to Californians to tackle the most pressing needs that low and moderate-income households and individuals are facing that include rising costs, dwindling reserves, rising costs, and a general slowdown in investment in the future of the state.
The budget has set aside $9.5 billion to tackle rising costs fueled by global inflation and a supply logjam. The budget also addresses the issue of universal healthcare access for all irrespective of their immigration status, including an investment of $200 million in reproductive care.
The Stimulus Check package covers a child’s entire lifespan that includes free school meals, universal preschool, and free community college.
The state has also made a climate commitment on a scale that even only a few nations can match by investing $53.9 billion. The state has also made major investments to the tune of $2.2 billion to get people off the streets into shelter and housing.
California Stimulus Checks Go Out To Millions
Even as millions expect the Middle-Class Tax Refund to reach their bank account, they need to remember a few things as payments are delayed for some.
As the payments started going out on Friday, you need to remember that your eligibility determines how fast the money hits your bank account or your mailbox.
The California Franchise Tax Board has revealed that funds were sent out starting October 7 and will continue through January 15, 2023. But there will be a gap between the sending date and the date when residents receive it, especially for the debit cards which could be delayed by a couple of weeks from the sending date.
Residents who have e-filed their state income tax return for 2020 are eligible for the direct deposit. For those who have filed a paper return and had a balance due, the stimulus check will be in the form of a debit card. This applies even if you have received the Golden State stimulus checks or tax refund by post.
Residents who have changed their bank or their account number will also receive payments through debit cards.