State lawmakers are poised to hit the jackpot next week: They’ll have more than $250 million to spend however they like. The problem is, some of that money could actually be yours. you want.
Sudden inflation deal a big blow to household finances 2022.
State lawmakers and Governor Gavin Newsom Emergency relief programs.
“This is called a middle-class tax refund. This is our way of putting money back in your pockets to help with everyday expenses,” said Governor Newsom. The video explains the program.
The California Franchise Tax Board sent prepaid debit cards or directly deposited payments into bank accounts to millions of people.
Carlos Solis, a master’s degree student at San Jose State University, was a happy recipient of the money, which was issued to him in the form of a $700 debit card.
“I thought this would be a great way to help pay for my tuition,” Solis said.
A year and a half later, some of the relief programs are beginning to wind down. But state financial records we reviewed show hundreds of millions of dollars remain unspent and at risk of never benefiting any families. In fact, next week the Franchise Tax Board is set to begin making huge transfers. On June 1, more than $360 million will be moved from the Better for Families Tax Refund Fund to the General Fund, where lawmakers can spend it however they like.
Before delving into why 2022 emergency funds remain unclaimed in 2024, the FTB said: Please visit this link Contact them to see if there is any money owed to you.
Remember Carlos Solis? And his $700? Turns out, some of his relief money was stuck. He couldn’t transfer the full amount from his card to his bank account.
“If the government promises to help its people, it should do so,” Solis said.
He called multiple times over the course of months seeking help with the card.
“Every day, every time, the response was the same: ‘We’re sorry to hear that. We’ll transfer you to the right department,’ and then they hung up,” Solis recalled.
He asked for our team’s assistance in receiving the full $700. Without our intervention, the state may have treated his account as dormant and returned his money to his lawmakers.
“That’s unacceptable,” Solis said.
Other people have complained to us about their MCTR payments, and they have also complained to their state legislators.
“We’ve had hundreds of calls from people who literally can’t get through to the customer support line, and that frustration has caused people to eventually give up and throw away their cards,” said state Rep. Greg Hart, who now chairs the Joint Legislative Audit Committee that directed the state to conduct an audit of MCTR payments.
of Recent audit finds The Franchise Tax Board’s lack of oversight allowed private card companies to ignore 36 percent of calls to speak with agents about debit cards.
Vendor Money Network told NBC Bay Area that calls were not answered for a variety of reasons, including callers quickly hanging up.
“This middle class tax rebate program is unprecedented in its speed and scale,” the money network said in a statement.
“The big failure is with the people who didn’t have access to this program and those who are still eligible for these benefits but haven’t been able to access them,” Hart said.
If you haven’t received your payment or you’re not sure if you received your paymentPlease speak up by June 1st.
If you have a debit card and haven’t used up the full amount or activated it, your balance is safe for now.
The state is keeping that money somewhere else, and lawmakers can’t get it back until 2026. Don’t worry, we’ll remind you in two years, but we really encourage you to spend that money now.
