A new rebate check, proposed by California lawmakers, would provide taxpayers with a $400 tax rebate check to assist them cope with the growing cost of goods and services such as petrol costs.
Although a final decision on the rebate has not yet been reached, significant effort has been made toward making it a reality. The rebate would be available to any California citizen who pays their state income tax on a quarterly basis.
Because the rebate is being introduced to assist with rising expenses, a person’s income will not be a determining factor in whether or not they qualify for the rebate.
Additionally, because the rebate is only available to individual taxpayers, a married couple might earn $800.
Exactly when the decision on the rebbe will be made remains a mystery at the time. Normally, the Legislature and Governor Gavin Newson reach an agreement on the state budget by the end of June,
but assembly woman Cottie Petrie-Norris is pressing for the money to be transferred earlier.
At a news conference, Petrie-Norris stated that the goal is to be able to complete the project by the spring. “All of the professionals here are going to be pushing really, really hard to make that happen,” she added.
According to the Newsom administration, a budget surplus of over $45 billion is predicted, indicating that there would be a significant amount of money available to assist California households in their financial struggles.
“There is an immediate need right now due to the rising expenditures across the board, not just for gas, but for all of our everyday living expenses, which have increased.” “People are in desperate need of relief right now,” Assembly Republican Leader James Gallagher said.
What is the reason for the rebate being only $400?
- Who Is Eligible to Get a $1,400 Stimulus Check in March as Part of the Stimulus Package?
- Due to a Large Increase in Employment, Stimulus Checks Are Less Likely to Be Issued in 2022.
- Jewel-Osco Accepts Food Stamps From the Supplemental Nutrition Assistance Program (SNAP-EBT).
According to Petrie-Norris, the choice to make the rebate $400 was taken since it is equal to the amount that most California consumers would pay in-state excise taxes on gas in a year if the rebate were to be $500.
With the gas tax set at 51 cents per gallon in California, the average driver fills up his or her tank 52 times a year on the state’s highways.
“It’s a one-year exemption from the gas tax,” Petrie-Norris explained.
In California, both Democratic and Republican leaders want to assist those who have been badly impacted by the increase in gas prices, which has come on top of other growing costs.
Another alternative to the tax rebate would be for the state’s gasoline tax rates to be reduced or eliminated.