Jun 27, 2022
Millions of Californians To Receive Up To $1,050 In ‘Inflation Relief’
(Bloomberg) -- California Governor Gavin Newsom announced late Sunday night that he had an reached agreement with state legislators on a $17 billion “inflation relief package.”
“Millions of Californians will be receiving up to $1,050 as part of a NEW middle class tax rebate. That’s more money in your pocket to help you fill your gas tank and put food on the table,” he tweeted.
Here's how it breaks down, according to Bloomberg Law. Individuals making as much as $75,000 a year, or joint filers making up to $150,000, would get $350 each plus $350 for one dependent for a maximum of $1,050. Those with income up to $125,000, or $250,000 filing jointly, would get $250 each plus another $250 for one dependent for a maximum of $750. Those earning more than $250,000, or $500,000 filing jointly, would get $200 each plus $200 for one dependent for maximum of $600.
The budget agreement also includes a $47 billion multi-year infrastructure and transportation package, and a pause in state diesel sales tax for a year starting Oct. 1. It does not include halting the gasoline tax most pay at the pump, which is expected to increase July 1.
In the wake of the Supreme Court overturning Roe v. Wade, $200 million has been earmarked for reproductive health care for those seeking sanctuary in California where abortion is legal. Newsom has also signed into law a bill protecting patients and providers in California against attempts by other states to extend their anti-abortion laws into the Golden State.
State Senate President Pro Tempore Toni Atkins tweeted her support for the package, “This budget agreement will bring relief to taxpayers in a significant and equitable way, putting our state’s wealth to work for Californians.”
California Assembly Speaker Anthony Rendon also tweeted, “In our #CABudget we’re focusing our funds to help Californians most in need. We’re prioritizing climate action, infrastructure investments, reproductive health, and much more.”
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