Millions of Californians Get Up to $1,050 for “Inflation Reduction”

The cost of rising inflation has sent Americans across the country into near panic about their finances and ability to pay for basic needs — but the state of California is providing substantial financial support. According to Governor Gavin Newsom’s announcement, more than 20 million California residents will receive up to $1,050 as part of the state’s “inflation reduction.”

For the 23 million California residents who earn less than $250,000 a year, Financial support is being implemented as a recently approved inflation reduction package. @NYPost reports that analysis of this package also indicates that residents with an annual income of less than $75,000 will receive $350 and joint miners with a combined income of $150,000 or less will get $700 and an extra $350 for dependents. In addition, those with an annual income of $125,000 or joint miners with a total income of $250,000 will receive between $250 or $500 combined, with another $250 for dependents. — with a maximum sum of $750. The most that anyone will receive stops at a total of $1,050.

For California high earners with annual income over $250,000 or $500,000 collectively, they will only receive $200 plus an additional $200 for a dependent up to a maximum of $600. dollars. Led by Governor Newsom, the California legislature reached a $17 billion deal to provide immediate relief to state residents struggling to stay afloat due to inflation across the country. country, especially since California currently has some of the highest gas prices in the country.

Taking to Twitter, Governor Newsom announced the inflation package, writing, “Millions of Californians will receive up to $1,050 as part of the NEW middle class tax break. That’s more money in your pocket to help you fill up your gas tank and put food on the table.”

Payment will be received by direct deposit or debit card from Sacramento.

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