/California Governor Pledges New Stimulus Payments to Residents
California Governor Gavin Newsom via Wikimedia Commons

California Governor Pledges New Stimulus Payments to Residents

California Gov. Gavin Newsom announced on Sunday that he and the state’s legislative leaders have agreed on a framework for the 2022-2023 state budget, which includes stimulus payments to help residents deal with rising inflation and gas prices.

“California’s budget addresses the state’s most pressing needs, and prioritizes getting dollars back into the pockets of millions of Californians who are grappling with global inflation and rising prices of everything from gas to groceries,” Newsom said in a press statement on Sunday. “The centerpiece of the agreement, a $17 billion inflation relief package, will offer tax refunds to millions of working Californians. Twenty-three million Californians will benefit from direct payments of up to $1,050.”

State residents who make less than $75,000 a year, or couples who make less than $150,000 per year, will get $350 per taxpayer, with the potential for an additional $350 if a couple has at least one dependent, according to the published plan. Based on these criteria, married couples with at least one child would receive $1,050 in payments.

Payments will decline as one’s income bracket rises. Single people who make less than $125,000 a year, or couples who make less than $250,000 per year, would receive $250 per taxpayer. If a family had at least one dependent, it would receive an additional $250, bringing the total government payment to $750.

Keep reading at The Washington Examiner.