California Gov. signs $300bn budget with tax rebates
California Gov. Gavin Newsom has signed into law key elements of a new $307.9bn state budget, the biggest state budget ever. It uses part of a $97bn surplus to send stimulus payments to California families to offset high gas prices and inflation. The spending plan that Newsom and lawmakers approved features a $17bn relief package to help families, seniors, low-income Californians and small businesses. The package includes $9.5bn in gas refunds, $1.4bn in utility payment assistance, expanded tax credits, and the suspension of a sales tax on diesel fuel. The plan provides refunds on a sliding scale based on three income levels: single tax filers who earn up to $75,000 or joint filers who report as much $150,000, individuals with income up to $125,000 or couples up to $250,000 and single filers who make $250,000, or $500,000 for joint filers. The lowest income bracket is eligible for $350 per tax filer and another $350 for those who claim at least one dependent. Respective payments drop to $250 for the middle-income level and $200 for the highest. The plan leaves out the state’s top earners and those at the very bottom who don’t make enough money to file taxes. 

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