Californians with last names starting with L through Z who are eligible for the state’s Middle-Class Tax Refund but did not receive Golden State Stimulus funding should get a prepaid debit card in the mail by December 31.
The fund was authorized this fall to help locals in curbing rising inflation. The payments range from $200 to $1,050 depending on your income and filing status. The stimulus will continue to be phased in until mid-January.
Individuals who meet the requirements for UBI receive a series of continuous payments from the government. They may be paid once a year, many times a year, or once a month.
Guaranteed income can be funded either from public or private sources. Even if another stimulus plan is unlikely to be approved by Congress, several states and towns give guaranteed income or UBI payments to their residents. The Sun gathered a list of more than 40 UBI cases, including ones in Georgia, Alaska, and Arizona.
According to the California Franchise Tax Board, those who qualify for the Middle-Class Tax Refund should get their stimulus checks by November 14. CBS8 reported on Monday that 6.9 million San Diego had yet to get their stimulus checks.
Individuals must earn enough to file taxes but not more than $250,000 per year or $500,000 for couples to qualify for the stimulus.
Several economists and financial experts, according to The Lee Daily Register, are concerned that inflation relief payments would merely help to accelerate inflation.
Giving out cash in an inflationary atmosphere, according to American Enterprise Institute senior scholar Beth Akers, will merely fuel greater inflation.
She also warned that as tax revenue growth slows, the checks may put several states in the red the next year, according to the Sun.
