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Millions of Californians to receive 'inflation relief' with gas tax rebate check...

 1 year ago
source link: https://finance.yahoo.com/news/inflation-relief-millions-californians-could-021050892.html
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Millions of Californians to receive 'inflation relief' with gas tax rebate checks

Terry Collins, USA TODAY
Tue, June 28, 2022, 2:15 PM·3 min read

Millions of California taxpayers may get thousands of dollars to help combat the high cost of gas and other goods.

The money will be distributed soon as California Gov. Gavin Newsom and legislative leaders reached an agreement over the framework for the 2022-23 state budget, Newsom's office announced Sunday.

About 23 million eligible Californians could each receive payments of up to $1,050 as part of a $17 billion inflation relief package, the governor's office said in a news release.

"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, Senate President pro Tempore Toni G. Atkins, and Assembly Speaker Anthony Rendon said in the release.

The deal comes as California drivers face the highest gas prices in the nation as the average price for a gallon of gas in the state Monday is $6.32, according to AAA, nearly 30% higher than the national average. Newsom first proposed a gas tax refund in March.

Georgia and Maryland have both passed bills to pause their state gas taxes.

California's new agreement also includes a suspension of the state sales tax on diesel, which reached as high as $7 across California according to AAA, and additional funds to help residents pay their rent and utility bills, state officials added.

NEW: 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.

— Gavin Newsom (@GavinNewsom) June 27, 2022

Taxpayers will receive a portion of California's record-setting $97 billion budget surplus as the funds would only go to residents who make a certain amount of money each year.


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