California planned to issue Middle Class Tax Refunds to 23 million low and middle-income tax filers, but $200 million of the $9.5 billion budgeted for refunds wasn’t sent.
It was one of the more curious bullet points inon how his administration will painlessly absorb, without slashing programs or hiking taxes, a deficit that has swelled to $31.5 billion: The state will hang on to $200 million it had promised last year for “Middle Class Tax Refunds.”
“The principal reason,” Department of Finance spokesman H.D. Palmer said, “is that our estimate didn’t account for turnover due to migration and deaths.”$97.5 billion budget surplus With inflation soaring and gas prices spiking, Newsom offered to return $9.5 billion of that surplus bounty to individual taxpayers who earned no more than $250,000 or joint filers up to $500,000, as relief from record inflation and gas prices. Payments ranged from $200 to $1,050 for 23 million qualifying taxpayers.
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