Gov. Gavin Newsom and state lawmakers have reached a tentative deal to return $9.5 billion in tax refunds to Californians, sending as much as $1,050 to families this fall in long-awaited financial relief from record-high gasoline prices and inflation.
The plan would provide larger refunds to households that earn less money and include an additional payment for dependents, according to documents outlining the proposal.
Although Newsom originally hoped to get money back in people’s pockets this summer, discord among Democrats at the state Capitol delayed the timeline for months. Refunds to offset the highest fuel costs of any state in the nation will likely not start going out until October if approved by the Legislature next week.
