Newsom Signs $308 Billion Budget, Californians to Get ‘Inflation Relief’ Checks – Los Angeles Sentinel | Los Angeles Sentinel

Newsom signs $308 billion budget, Californians to get ‘inflation relief’ checks

California Governor Gavin Newsom (Courtesy)

About 23 million Californians will soon receive “inflation relief” checks of up to $1,050. The aid is included in the new budget deal reached by state lawmakers and Gov. Gavin Newsom on Sunday, June 26.

“California’s budget addresses the state’s most pressing needs and prioritizes putting dollars back into the pockets of millions of Californians struggling with global inflation and rising prices for everything from gasoline to groceries,” Newsom said in a statement.

The checks are earmarked for tax refunds and will come from the state’s robust $97 billion budget surplus. The total state budget for the next fiscal year (2022-2023) is $308 billion.

The relief is based on income, tax filing status and household size — similar to the stimulus checks sent to Americans by the federal government during the pandemic.

Single taxpayers earning less than $75,000 per year and couples filing jointly making less than $150,000 per year will receive $350 per taxpayer. Those with dependents will receive an additional $350 per child. For example, a couple earning under $125,000 and having two children qualifies for $350 per adult plus $350 for each additional child, up to a total check of $1,050.

Californians with higher incomes will receive smaller payments. Single taxpayers making between $75,000 and $125,000 a year and couples making between $150,000 and $250,000 will get $250 plus the same payment for each dependent, up to a maximum of $750 per family.

Single people earning between $125,000 and $250,000 and couples earning between $250,000 and $500,000 a year will get $200 each, plus the same amount for their dependents. The maximum payment couples in this salary range will receive is $600 per family. Couples earning over $500,000 and single taxpayers earning over $250,000 are not eligible for the payments.

Checks will be sent via direct deposit or debit cards by the end of October.

“In the face of growing economic uncertainty, this budget invests in California values ​​while further replenishing the state’s budget reserves and creating stimulus for future state spending to ensure budget stability for years to come,” Newsom said. “In addition, California is doubling down on our response to the climate crisis—providing additional energy generation capacity for the summer, accelerating our clean energy future, expanding our ability to prepare for and respond to severe wildfires, extreme heat, and continued on land to come.’

Other hot-button issues addressed in the finalized budget include a $47 billion multi-year infrastructure and transportation package, $200 million in additional funding for reproductive health services and funding for education, universal preschool, child mental health and free school meals.

Not everyone was thrilled with the final budget deal. Republicans complained about the limited time they were given to review the induction package.

“Where’s the information?” Sen. Jim Nielsen (R-Yuba City) asked during a brief Senate Budget and Fiscal Review Committee hearing Monday. “What are you afraid of?”

Governor Newsom signed the budget on June 30.

You can see California’s full budget here.

Newsom Signs $308 Billion Budget, Californians to Get ‘Inflation Relief’ Checks – Los Angeles Sentinel | Los Angeles Sentinel Source link Newsom Signs $308 Billion Budget, Californians to Get ‘Inflation Relief’ Checks – Los Angeles Sentinel | Los Angeles Sentinel

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