California is sending out the first round of inflation relief payments.
You may have found some extra money deposited into your bank account today.
Economic relief payments will go out to millions more Californians in the coming days, weeks, and months.
First came the pandemic-- then came soaring inflation, rising costs and signs of a recession.
California is now sending out another round of relief payments for the latest economic woes.
“I don’t know who that wouldn’t help especially thinking about families and with gas prices right now,” said Cal Poly Student Ryan Corr. “I think 200 to 700 bucks could really help me out and a lot of people.”
The Middle-Class Tax Refund Payments are set to benefit some 23 million people, according to the governor’s office.
Here is a breakdown of how much money eligible Californians will receive:
If you’re married and claim a dependent, you’ll get the highest payment of $1,050. That drops to $400 if you make up to $500,000 a year without a dependent.
For singles making up to $250,000 per year, payments range from a low of $200 to a high of $700.dollars…
“It would help, but it wouldn’t make a huge difference,” said San Luis Obispo Resident Carolyn Hiigel.
Some say that the payments-- while helpful-- mean little economic relief for countless people who are struggling.
“I think it would help a little bit, I’m sure more for some than others. I’m sure for some people it might deter from getting back into the workforce.”
Others agree with that sentiment but would take any help they can get right now.
“I was living in Los Angeles over the summer and the rent was 1400 bucks. So, 700 bucks is half of that rent which is not a whole lot but it’s better than a poke in the eye,” added Corr.
Payments will go out in the form of direct deposits and debit cards from now through mid-January.
Eligibility is determined by your 2020 income tax returns. Only California residents will receive payments.