Qualifying Californians will begin receiving relief payments of up to $1,050 this week to soften the blow of inflation.
Gov. Gavin Newsom signed a $308 billion state budget in June to deliver direct tax refunds to 23 million Californians as they struggle with inflation, which jumped 8.3% year over year. …
The one-time payment, known as the Middle Class Tax Refund (MCTR), will be automatically delivered to residents starting Oct. 7, 2022, through Jan. 15, 2023, according to the Newsom administration. It anticipates that 95% of all payments will be issued before the end of the year.
[Incentivizing demand while doing nothing for supply is a sure-fire method of pouring gasoline on an inflationary fire … but it will buy votes in the short term — Ed]
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