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Wednesday, September 28, 2022

Stimulus Checks: Millions Of Californians Getting Checks

Californians will soon get an inflation-relief stimulus check to help offset increasing costs of living.

With many economic conditions increasing the cost of living for most Americans, federal and state governments are still trying to offset the effects of inflation on U.S. citizens. One state that is taking the battle into its own hands in California. The state plans to provide its residents with stimulus checks to soften the blow of inflation.

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On June 30, 2022, Governor Gavin Newsom signed a $308 billion state budget that provides direct tax refunds for 23 million Californians. This means an estimated 23 million Californians could receive a stimulus check package of up to $1,050 to help counter the effects of record-high inflation. 

The inflation relief checks are part of a $17 billion package and will be funded from a $97 Billion state budget surplus. Additional relief from the package includes aid for emergency rental assistance, utility bills and pausing the state sales tax on gas.

Who Is Eligible For This New California Stimulus Check?

Eligibility will depend on your income, as reported on your 2020 tax return whether or not you have at least one dependent. The stimulus amounts are based on three tiers(opens in new tab).

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Single tax filers:

$350 if they make less than $75,000 per year and an additional $350 if they have at least one dependent

$250 if they make between $75,001 and $125,000 per year. Plus an additional $250 if they have at least one dependent

$200 if they make between $125,001 and $250,000 per year. Plus an additional $200 if they have at least one dependent

Joint tax filers:

$700 if they make less than $150,000 per year and an additional $350 if they have at least one dependent

$500 if they make between $150,001 and $250,000 per year. Plus an additional $250 if they have at least one dependent

$400 if they make between $250,001 and $500,000 per year. Plus an additional $200 if they have at least one dependent

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