California Gov. Gavin Newsom (D) signed a $308 billion state budget Thursday that includes offering “inflation relief” checks to millions of Californians of up to $1,050.
The new budget has a $17 billion relief plan to help ease the financial stress for millions of Californians spurred by rising costs from inflation includes $9.5 billion for the tax refunds that will be issued to about 23 million residents as soon as October, $1.95 billion in rental assistance for low-income tenants that filed a request for funds by last March, $1.4 billion to help Californians pay past-due utility bills, and a 12-month pause on state taxes for diesel fuel, Newsom’s office announced.
NEW JERSEY LEGISLATURE VOTES TO APPROVE $500 CHILD TAX CREDIT FOR FAMILIES
“This budget invests in our core values at a pivotal moment, safeguarding women’s right to choose, expanding health care access to all and supporting the most vulnerable among us while shoring up our future with funds to combat the climate crisis, bolster our energy grid, transform our schools and protect communities,” Newsom said in a press release. “Building a better future for all, we’ll continue to model what progressive and responsible governance can look like, the California way.”
The tax refunds will be based on the earnings of California residents on their 2020 tax return filed by the Oct. 15, 2021, deadline, among other qualifications. Couples who file jointly, make less than $150,000-a-year, and have at least one dependent will receive the maximum rebate of $1,050. Couples who filed jointly and make less than $150,000 a year without a dependent will receive $700 total, according to the new “middle-class” calculator.
Individuals who make up to $250,000-a-year without a dependent, and a couple without dependents who make $500,000-a-year will receive the lowest rebate of $200. People who make more than the thresholds will not receive a tax refund. The calculator lists further tax refund breakdowns for those curious.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Other parts of the new budget include expanding healthcare for undocumented immigrants, $14 billion to help with California infrastructure, funds to help combat homelessness, funding for a permanent Smash and Grab Enforcement Unit to fight retail theft, and additional funding for abortion access in the aftermath of the recent Supreme Court ruling that overturned Roe v. Wade and returned the issue back to the states.
The new budget was passed by state legislators on Wednesday and it will go into effect Friday.
