California, a state in the United States, recently announced that it would provide its citizens with an inflation relief payment of up to $1,050.
The Middle Class Tax Refund programme was launched in June when California Governor Gavin Newsom put aside a 17 billion dollar provision as a means of combating inflation through tax rebates for residents of the state.
In a press release, governor Gavin Newsom said, “In the face of new difficulties and uncertainties, we’re offering over 17 billion in relief to help people make ends meet, and doubling down on our investments to keep building the California Dream on a sound budgetary basis.
This budget strengthens our future with money to fight the climate crisis, sustain our energy system, transform our schools, and defend communities while preserving women’s right to choose, increasing access to healthcare for everyone, and helping the most vulnerable among us.
We will continue to set an example of what progressive and responsible governance can be like, the California way, in order to create a brighter future for everyone.
When will the amount be credited?
The good news for Californians is that these relief payments may arrive as early as October 7, 2022, suggesting that those who qualify may start seeing the deposits transferred to their accounts soon.
There will actually be two sets of payouts. The first round of payments will be made between October 7 and October 25, and the second phase will be made between October 28 and November 14.
Additionally, people who didn’t file their 2020 taxes electronically will receive relief cash in the form of debit cards.
According to Andrew LePage, spokesman for the California Franchise Tax Board, 90% of the payments should be made by the end of October.