California Issues $350 Stimulus Checks
In a new inflation-relief package by the state of California, over half of its citizens are to receive up to $1,500 in financial aid.
The move is estimated to cost $17 million and will be given to all eligible Californians. Around 23 million people will receive the checks.
For single Californians, the highest available check will be $350 for those earning less than $75,000 a year. And joint tax filers will receive up to $700 for those earning less than $150,000 a year.
Those who have one or more dependents can receive an additional bonus check ranging from $350, $250 and $200. For joint filers with dependents, the total amount could rise to $1,050.
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Current gas prices in California average around $6.50 a gallon for regular gas, adding to the nationwide inflation.
Newsom said in a statement, that the checks will ease most budgeting needs of its citizens.
“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,” the governor said in a statement.
The funding for the checks is expected to come from the $97.5 billion surplus from this year’s state taxes.
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