Millions of California taxpayers will get “inflation relief” tax refund payments after lawmakers agree on the 2022-23 budget framework. The deal also suspends the state sales tax on diesel. “The centerpiece of the deal, a $17 billion inflation relief package, will provide tax refunds to millions of working Californians,” a joint statement from Governor Gavin Newsom, the acting Senate president, said Sunday night. , Toni Atkins, and Assembly Speaker Anthony Rendon. | RELATED | Read what’s in the agreement here. The framework includes giving 23 million Californians, a number that includes taxpayers and their dependents, direct payments of up to $1,050. Payments would be issued via direct deposit refunds or debit cards to tax filers in late October, according to the Newsom administration. The state Franchise Tax Board estimates that everything will be issued in late 2022 or early next year for the 17.4 million state taxpayers who benefit. This is how direct payments would work. Taxpayers would receive $350, $250 or $200 depending on their income level with an additional payment of the same amount if they have at least one dependent. $75,000 would get $350. Joint filers with income less than $150,000 would get $700. If they have at least one dependent, they will receive an additional $350. So, for example, that means a married couple making $100,000 per year with one child would receive $1,050. About 82% of the state’s beneficiaries are at this income level. Individual taxpayers earning between $75,001 and $125,000 would get $250. Joint filers with income between $150,001 and $250,000 would receive $500. If they have at least one dependent, they will receive an additional $250. About 12% of beneficiaries are at this level. Individual taxpayers earning between $125,001 and $250,000 would get $200. Joint filers earning between $250,001 and $500,000 would receive $400. If they have at least one dependent, they will receive an additional $200. About 6% of beneficiaries are at this level. Here are other relief efforts in the budget deal to help vulnerable Californians. $300 million for increased benefits for Supplemental Security Income/State Supplemental Payment (SSI/SSP) recipients: The SSI/SSP program is for people who are age 65 or older, or blind or disabled. The deal would increase grants by about $39 per month ($470 per year) for individuals and $100 per month ($1,200 per year) for couples. In total, the increases would affect 1.1 million cases. Over $800 million for CalWORKS grant recipients: CalWORKS is a program that provides cash and services to eligible families with a child or children in the home. Combined with previously announced increases, a family of three could receive up to $194 more per month. The increases affect about 369,000 households. This is what the agreement includes. Starting Oct. 1, the state will suspend the sales tax on diesel, now 23 cents a gallon, for 12 months. “The state will provide local governments with the matching amount of revenue, estimated at $439 million, so there is no impact on local transportation funding projects,” HD Palmer of the Department of Finance told KCRA 3. This is the The last word Friday was that suspending a gas tax was out of the question because Newsom and Democratic leaders refused, arguing it would not guarantee a price drop big enough to benefit drivers. Sunday’s deal also includes additional funds to help people pay rent and utility bills. The statement from the governor and legislative leaders also said California “would become the first state to achieve universal access to health care coverage,” but did not elaborate. And the framework would provide more than $200 million in additional funding for reproductive health care services. “This budget builds on our unprecedented commitment to transform the resources available in our state, from a multi-year $47 billion transportation and infrastructure package to education and health care, showing the nation what a true pro-life agenda looks like.” , the joint document said the statement. The deal comes as Californians have struggled with rising gasoline prices. On Sunday, the state’s average gallon of regular gasoline cost $6,321. Though that’s not as high as the record high of $6,438, which was set on June 14. And diesel prices are even higher at $6,973.| INTERACTIVE DATA BELOW | County by county, look at gas prices in the Sacramento metro region
Millions of California taxpayers will get “inflation relief” tax refund payments after lawmakers agree on the 2022-23 budget framework. The deal also suspends the state sales tax on diesel.
“The centerpiece of the deal, a $17 billion inflation relief package, will provide tax refunds to millions of working Californians,” a joint statement from Governor Gavin Newsom, the acting Senate president, said Sunday night. , Toni Atkins, and Assembly Speaker Anthony Rendon.
| RELATED | Read what’s in the deal here.
The framework includes giving 23 million Californians, a number that includes taxpayers and their dependents, direct payments of up to $1,050. Payments will be issued via direct deposit refunds or debit cards to taxpayers in late October, according to the Newsom administration. The state Franchise Tax Board estimates that everything will be issued by the end of 2022 or early next year for the 17.4 million state taxpayers who benefit.
This is how direct payments would work.
Taxpayers would receive $350, $250 or $200 depending on their income level with an additional payment of the same amount if they have at least one dependent.
- Single filers earning less than $75,000 would receive $350. Joint filers with income less than $150,000 would receive $700. If they have at least one dependent, they will receive an additional $350.
So, for example, that means a married couple making $100,000 per year with one child would receive $1,050.
About 82% of the state’s beneficiaries are at this income level.
- Individual taxpayers earning between $75,001 and $125,000 would get $250. Joint filers with income between $150,001 and $250,000 would receive $500. If they have at least one dependent, they will receive an additional $250.
About 12% of beneficiaries are at this level.
- Individual taxpayers earning between $125,001 and $250,000 would get $200. Joint filers earning between $250,001 and $500,000 would receive $400. If they have at least one dependent, they will receive an additional $200.
About 6% of beneficiaries are at this level.
Here are other relief efforts in the budget deal to help vulnerable Californians.
$300 million for increased benefits for Supplemental Security Income/State Supplemental Payment (SSI/SSP) recipients: The SSI/SSP Program it is for people who are 65 years of age or older, or who are blind or disabled. The deal would increase grants by about $39 per month ($470 per year) for individuals and $100 per month ($1,200 per year) for couples. In total, the increases would affect 1.1 million cases.
More than $800 million for CalWORKS grant recipients: CalWORKS is a program that provides cash and services to eligible families with a child or children in the home. Combined with previously announced increases, a family of three could receive up to $194 more per month. The increases affect about 369,000 households.
Here’s what’s more in the deal.
Starting Oct. 1, the state will suspend the sales tax on diesel, now 23 cents a gallon, for 12 months.
“The state will provide local governments with the matching amount of revenue, estimated at $439 million, so there is no impact on local transportation funding projects,” HD Palmer of the Department of Finance told KCRA 3.
This comes as the last word on Friday was that suspending a gas tax was off the table because Newsom and Democratic leaders refused, arguing it would not guarantee a price drop big enough to benefit drivers. .
Sunday’s deal also includes additional funds to help people pay rent and utility bills.
The statement from the governor and legislative leaders also said California “would become the first state to achieve universal access to health care coverage,” but did not elaborate.
And the framework would provide more than $200 million in additional funding for reproductive health care services.
“This budget builds on our unprecedented commitment to transform the resources available in our state, from a multi-year $47 billion transportation and infrastructure package to education and health care, showing the nation what a true pro-life agenda looks like.” , the joint document said the statement.
The deal comes as Californians have struggled with rising gasoline prices.
On Sunday, the average gallon of regular gasoline in the state was $6,321. Though that’s not as high as the record high of $6,438, which was set on June 14. And diesel prices are even higher at $6,973.
| INTERACTIVE DATA BELOW | County-by-County Analysis of Gas Prices in the Sacramento Metro Region
Reference-www.kcra.com