The high inflation rate of 8.5%, has thrown the lives of American citizens into chaos. The pandemic set the trigger off throwing the lives of American citizens in a spin. Stimulus checks have been provided from time to time to protect the citizens.
Now, with the prices of essentials like food, gas, and shelter having skyrocketed many of the lower and middle-income group people are struggling to make ends meet. State Govt. in America are issuing stimulus checks to protect their residents and to provide affordability.
The funding initiatives, from the Govt., are mostly being financed by revenue surplus.
Stimulus Check Payments in California
Prices of the bare essentials like food, Gas, etc, have risen so rapidly in the past few months that people are struggling to make ends meet. People are taking up additional jobs to try and meet their expenses.
California has founded Middle-Class Tax Refund through which it plans to disperse stimulus checks to its residents. They have specified criteria for qualification. The qualification selection is based on the earning and filing of the tax returns. Depending on the income and filing status of the residents of California, can expect tax relief payments between $200 and $1050.
Individual return filers earning less than $250K, and couples who earn less than $500k will qualify for the stimulus check payments.
The payments shall be remitted to the bank accounts of the people qualifying, and others shall be issued state Govt. issued debit cards, from sometime in Oct. the whole process of remittance to the govt. Expects to be completed by the first month of January 2023.
Several other states are offering stimulus checks to their residents as well, to protect their residents from the high living cost.