Federal and state governments continue to work to counter the effects of inflation on Americans, even as various economic situations increase the cost of living for most Americans. California is one of the warring states. To mitigate the impact of inflation, the state intends to give a stimulus check to its citizens.
Governor Gavin Newsom approved a $308 billion state budget on June 30, 2022, which gives 23 million Californians a stimulus check in the form of a direct tax refund. That suggests a stimulus package worth up to $1,050 could be provided to about 23 million Californians to help offset the consequences of historically high inflation.
The $17 billion package, which includes the stimulus check, will be paid from the state’s $97 billion surplus. The package includes respite from paying utility bills, emergency rental assistance, and state gasoline sales tax.
Who are eligible for these stimulus checks?
Whether or not you have at least one dependent will depend on your income as shown on your 2020 tax return. Three steps are used to determine stimulus amounts with the stimulus check.
- If their annual income is less than $75,000, $350; when they have at least one dependant, an additional $350.
- Those earning between $75,001 and $125,000 annually are eligible for $250. Also, if they have at least one dependent, an additional $250
- Those who earn between $125,001 and $250,000 annually must pay $200. Additionally, if they have at least one dependent, an additional $200
- If their annual income is less than $150,000, they must pay $700, plus $350 more when they have at least one dependant.
- $500 if his annual income is between $150,001 and $250,000. Additionally, when they have at least one dependent, an additional $250
- If their annual income is $250,001 to $500,000, they must pay $400. Additionally, when they have at least one dependent, an additional $200