Eligible Californians to Receive Up to $1,050 to “Help Address Rising Costs”

Eligible Californians to Receive Up to $1,050 to “Help Address Rising Costs”

ABC: Millions of qualifying Californians will receive up to $1,050 as part of the state’s Middle Class Tax Refund program starting this week. The first round of payments are set to go out Friday. Approximately 23 million taxpaying California residents are eligible to receive the payments, with smaller payments going to higher earners. The payments, which are technically tax refunds, are meant “to help address rising costs,” according to Gov. Gavin Newsom’s office. To be eligible, you must have filed your 2020 tax return by last October and make less than $150,000 per year. If you are eligible, there is no action to take. You will receive a payment automatically without an application process (ABC). Charles Cooke:  “California will start handing out $1,050 stimulus payments to residents this week to combat inflation” (Twitter). Handing out free money to millions of residents will undoubtedly increase inflation.