State's new budget agreement includes a $17 billion inflation relief package that includes direct payments of up to $1,050 per household.

Inflation relief money is set to be distributed to 23 million taxpayers this fall.

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By doing so, Americans will be able to ease the financial burden caused by the highest inflation in 40 years.

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A portion of the inflation relief package will also suspend the state sales tax on diesel fuel to ease pain at the pump.

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That will assist residents in paying their rent and utility bills.

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This is what you need to know about California's inflation relief program.

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How much are the inflation relief payments?

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There will be relief payments ranging between $200 and $1,050.

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The amount will depend on the person's income, their filing status, and the number of dependents they claim .

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In a similar manner to how stimulus checks were sorted earlier in the pandemic situation.

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Who is ELIGIBLE FOR THE inflation relief checks?

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According to The Mercury News, payments are structured into three tiers.

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There are 14.2 million taxpayers in Tier 1 who make up to $75,000 as individuals or $150,000 as couples.

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For each individual, $350 is given, plus an additional $350 if the individual has a dependent.

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Couples in this income bracket with dependents would receive $1,050.

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