Stimulus Check Updates: California Tax Relief Deal

Tax Season Stimulus Check
Stimulus Check

In response to increasing gas costs and inflation, California Governor Gavin Newsom and state lawmakers have decided to distribute stimulus checks of up to $1,050 to millions of families. This was verified on Sunday night.

An expected 23,000,000 California residents would gain from the three-tiered stimulus check scheme, with middle- and low-income households slated to get gradually more money as they moved up the income scale.

As reported by CalMatters on Friday, the 9.5 billion USD in tax returns are a key component of a larger $12 billion relief package that is fundamental to a $300 billion budget pact revealed by state lawmakers on Sunday night.

Stimulus Checks And California’s Budget

Each taxpayer in a household earning up to $75,000 (or $150,000 if filing jointly) would get $350 (plus an additional $350 if the taxpayer had at least one dependent) under the tax rebate stimulus check proposal. This means that a family with two parents would earn $1,050 a year, while a family with one parent would receive $700.

For families making up to $125,000 for adults or $250,000 for filing jointly, the sum would drop to $250 per taxpayer, and for families earning up to $250,000 for people or $500,000 for filing jointly, it would drop to $200 per taxpayer. If a family has at least one child, they would get an extra $250 in the first tier and an extra $200 in the second.

Individual Californians with earnings over $250,000 and married couples with incomes over $500,000 just wouldn’t qualify for a reimbursement. Supplemental Security Income and California Work Opportunity and Responsibility to Kids (CalWORKs) beneficiaries would each get $1.1 billion from the bailout package.