California to start sending out $9.5 billion in tax refunds of up to $1,050 to residents
SACRAMENTO -- Gov. Gavin Newsom on Thursday confirmed the state will begin sending out $9.5 billion in tax refunds to help Californians cope with inflation Friday.
The so-called Middle Class Tax Refund payments of up to $1,050 that will benefit millions of eligible Californians under the largest such program in state history, according to a press release issued by the governor's office. Upwards of 23 million residents, including those who do not have U.S. citizenship, will be receiving the refund to help them cover the rising costs of gas and groceries.
The release said the program to "get money back in the pockets of Californians" is an extension of the 2021 Golden State Stimulus, which distributed $9 billion to families, and the billions in pandemic relief funds that went to help residents pay rent and cover overdue utility bills in addition to supporting small businesses.
"We know it's expensive right now, and California is putting money back into your pockets to help. We're sending out refunds worth over a thousand dollars to help families pay for everything from groceries to gas," said Newsom.
Newsom also tweeted about the refund Thursday morning.
Californians are getting $$ starting TOMORROW! 💵
— Office of the Governor of California (@CAgovernor) October 6, 2022
Those eligible will receive up to $1,050 to help with rising costs from groceries to gas.
23 million Californians will benefit from this $9.5 billion tax refund.
See how much you’ll get: https://t.co/SyToO7HRgl pic.twitter.com/T00orcABfa
According to the governor's office, payments will range from $400 to $1,050 for couples who filed their taxes jointly and $200 to $700 for all other individuals depending on their income and whether they claimed a dependent. A total of 18 million payments will be distributed, with an estimated 8 million direct deposits set to start arriving in bank accounts between October 7 and November 14.
Additionally, an estimated 10 million debit cards will be delivered to eligible California residents from October 25 through January 15. To determine your eligibility and get an estimate on your refund, residents can visit taxrefund.ca.gov.
"Inflated costs for everyday necessities have forced many to cut corners or make impossible choices, and pain at the pump has been compounded by the return of the commute for many Californians" said State Controller and Franchise Tax Board Chair Betty T. Yee. "As the holidays approach, my team members are thrilled to be able to get these payments into the hands of those who have been struggling, so they can enjoy a measure of relief."