Lawmakers and Gov. Gavin Newsom have finalized a deal to send $9.5 billion back to Californians feeling the crush of $6 gasoline and rising costs for groceries and other products and services. The payments, which could be as much as $1,050 for a family, will not be coming in time for a 4th of July road trip – but they should land before the winter holidays.
Comments from state leaders indicate inflation cashback payments will likely be pushed into the fall as bureaucrats work out the kinks of sending money to nearly 23 million people.
At the heart of the delay is the Franchise Tax Board, which will be responsible for issuing the bulk of payments to bank accounts linked to tax accounts. In May Gov. Gavin Newsom said the tax board would not start that process until October because the agency is already dealing with tax refunds.