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California tax relief: What’s in the tentative deal | News – Bakersfield, California

Bakersfield, California 2022-06-26 19:00:00 –

Governor Gavin Newsom and legislative leaders have sent $ 1,050 to millions of families in California to help raise gas prices and inflation, according to an email sent to Democrats in the state legislature last week. Has reached a tentative agreement to provide.

According to an overview obtained by CalMatters, the three-tier program will benefit an estimated 17.4 million California taxpayers. This will earn $ 250,000 for individual filers and $ 500,000 for co-filers, which will be received by low- and middle-income households. Gradually more money.

The plan is part of a broader $ 300 billion budget transaction that state leaders will continue to negotiate prior to the start of July 1st of the fiscal year.

E-mails to Democratic senators and their staff chiefs called the rebate proposal an “agreement,” while a San Diego Democratic senator Protemtony Atkins spokesman said, “The tentative agreement may be broken.” I warned today with a statement.

Newsom spokesman Anthony York denied the deal and repeated, as details could change until the final budget compromise was publicly announced. ..

“We won’t solve the problem until the entire budget is complete,” he said.

Under this plan, households that earn $ 75,000 for individuals and $ 150,000 for co-filers will receive $ 350 per taxpayer, plus $ 350 if they have at least one dependent. Therefore, a single parent receives $ 700 and a family of two parents receives $ 1,050.

The amount is $ 125,000 for individuals, $ 250,000 for co-filers, $ 250,000 for individuals, and $ 500,000 for co-filers. In both of these tiers, if there is at least one dependent, the parent will receive an additional $ 250 or $ 200, respectively.

Californians with an individual income of $ 250,000 and a co-filer with an income of more than $ 500,000 will not receive a rebate. The plan also includes an increase in the number of supplementary social security recipients who do not file taxes.

“This plan recognizes that some people are more hurt than others and gives them a great deal of relief,” according to a message email sent to the Democratic Party of Parliament. The cost is estimated at $ 10 billion.

Differences in proposed spending on colleges, housing, and social safety net programs, as well as details on key climate packages, were protracted when Congress passed the placeholder budget earlier this month. But the biggest stagnation in the bargains that lawmakers had to print by Monday to pass before leaving for summer vacation at the end of the month was the debate over direct financial assistance to taxpayers.

Newsom and legislative leaders have been in conflict for months over whether to bail out drivers or the poorest Californians.

In a March Governor’s speech, the Governor called for plans to deal with soaring gas prices, which averaged over $ 6 a gallon. He suggested sending up to two $ 400 debit cards per person to all registered vehicle owners in the state.

Legislative leaders firmly resisted the approach, which does not include income restrictions. Progressive critics have said it will benefit millionaires and millionaires, while excluding Californians who are too poor to own their own car.

The tentative agreement is much closer to the program devised by Atkins and Lendon, where the state cuts $ 200 checks per eligible taxpayer and its dependents living in the household, less than $ 250,000 a year for couples, For individuals, it should be less than $ 125,000 per year. ..

Despite rising demand from Republicans and an increase in Democrats, the plan does not include a state gas tax suspension scheduled to be raised by 3 cents on July 1.

California tax relief: What’s in the tentative deal | News Source link California tax relief: What’s in the tentative deal | News

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