Here’s how much money you’re eligible for under California’s inflation relief plan
Californians will pocket up to $1,050 in the state’s $9.5 billion effort to help with inflation and climbing gas prices — and lower-income residents are the focus.
The money, which is estimated to hit early next year in either a direct deposit or debit card, will range depending on how you file and your annual income.
How much money will I get?
The more you make, the less you should expect from California’s inflation and gas relief package.
In Sacramento, for example, the median household income is roughly $65,800, according to the U.S. Census Bureau. That income falls in the first category: single filers who make less than $75,000 a year will receive $350 and joint filers making less than $150,000 will receive $700.
Filers who fall in the first category will receive an additional $350 if they have at least one dependent.
Single filers making between $75,001 and $125,000 will get $250, while joint filers making between $150,001 and $250,000 will get $500. Those with at least one dependent receive an additional $250.
Only 6% of California’s population represent the last category: Single filers earning between $125,001 and $250,000 will receive $200 and joint filers making between $250,001 and $500,000 will pocket $400. People will receive an additional $200 if they have at least one dependent. In short:
▪ A single filer will receive between $200 and $350.
▪ A single filer with at least one dependent will receive between $400 and $700.
▪ A joint filer with at least one dependent will receive between $600 and $1,050.
How did California get here?
This story was originally published June 28, 2022 at 10:48 AM.