California to receive inflation payments

California to receive inflation payments

Democratic California Gov. Gavin Newsom agreed on a $17 billion relief package. It includes a $9.5 billion in inflation relief funds.

From it, an estimated 23 million Californians will receive between $200 and $1,050 early next year.

Those with up to $75,000 in income, or $150,000 if married and filing jointly, will receive up to $350 per tax filer, plus $350 if they have one or more dependent. Thus, joint filers with at least one dependent stand to receive the highest possible sum of $1,050, per CNBC.

See how high inflation is in America here.