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Drivers could receive checks for up to $1,050 to deal with inflation and gas prices

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  • California drivers could receive checks for up to $1050.
  • The objective is to help drivers deal with inflation and the high price of gasoline.
  • Find out how much and when the beneficiaries could receive the money.

EXCELLENT NEWS THIS WEEK! State and local governments continue to offer economic aid to their residents. Now it has been announced that checks for up to $1,050 could be coming soon to help residents deal with high gas prices.

California Governor Gavin Newsom and state lawmakers announced Friday that they had finally reached an agreement. They will distribute $9.5 billion in tax refunds to California residents.

Checks for up to $1,050 to deal with inflation and gas prices

Inflation checks and the price of gasoline
Photo: AP

The program estimates that some families in California will be able to receive checks for up to $1,050. The objective is to offer people financial aid that allows them to stay afloat in the midst of rising inflation that had not been seen in more than 40 years in the United States as well as the overwhelming increase in the price of gasoline.

However, although the government and legislators managed to agree on this help for California residents, it is still a tentative agreement, at least until the legislature formally approves the measure next week, according to La Opinión.

How much money will residents receive?

money 2
PHOTO Shutterstock

This new initiative proposes that those who earn up to $75,000 annually will receive a $350 refund check. Married couples filing jointly and earning up to $150,000 annually will receive a refund check for twice as much: $700.

But that’s not all, because there are still some families with declared dependents who will receive an additional $350, which would mean a total of $1,050. In addition, those who exceed the income range will not be completely omitted, but will receive smaller refunds.

When will the checks arrive?

money
Photo: Shutterstock

Some families in California may receive up to $1,050 but the money could take a while to arrive because it is possible that officials won’t begin to deliver the payments until October, according to the Los Angeles Times.

The payments could come at an opportune time for many families trying to deal with skyrocketing gas prices. In fact, US President Joe Biden, asked Congress to suspend the federal tax on gasoline until at least September, but they have not yet advanced on that matter.

How much does it cost to fill your tank?

Inflation checks and the price of gasoline
Photo: AP

California is one of the states in the country most affected by the increase in gasoline prices, even well above the national average. Currently in the United States, the average price of a gallon of gasoline is at $4.90. In California the average price is already over $6.

At this time, the price of a gallon of gasoline in California is exactly $6.30, which means that to fill a gas tank in this state could cost over $100! This is why people are anxiously waiting for the general spending plan for next year to be finalized and announced. It also includes Covid-19 bonuses for health workers.

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