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Monday, August 8, 2022

Stimulus Check Updates: California Tax Relief Deal

Gov. Gavin Newsom and legislative leaders have agreed to provide stimulus checks of as much as $1,050 to millions of California families to help with rising gas prices and inflation, they confirmed Sunday night.

The three-tier stimulus check program would benefit an estimated 23 million California taxpayers, including individual filers making as much as $250,000 and joint filers making as much as $500,000, with low- and middle-income households set to receive incrementally more money.

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The $9.5 billion in tax refunds, which CalMatters reported Friday, is part of a $12 billion relief plan that is central to a broader $300 billion budget deal that state leaders announced Sunday night.

Stimulus Checks And California’s Budget

“California’s budget addresses the state’s most pressing needs, and prioritizes getting dollars back into the pockets of millions of Californians who are grappling with global inflation and rising prices of everything from gas to groceries,” Newsom, Senate President Pro Tem Toni Atkins, and Assembly Speaker Anthony Rendon said in a joint statement.

Under the tax rebate stimulus check plan, households making as much as $75,000 for individuals or $150,000 for joint filers would receive $350 per taxpayer, plus an additional $350 if they have at least one dependent. So a single parent would receive $700 and two-parent families would receive $1,050.

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The amount would decrease to $250 per taxpayer for households making as much as $125,000 for individuals or $250,000 for joint filers, and to $200 per taxpayer for households making as much as $250,000 for individuals or $500,000 for joint filers. In both of these tiers, parents would receive an additional $250 or $200, respectively, if they have at least one dependent.

Californians with incomes above $250,000 for an individual or $500,000 for joint filers would not receive a rebate. The relief package also includes $1.1 billion in aid for recipients of Supplemental Social Security or CalWORKs.

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