The plan to issue refunds is part of a larger state budget agreement the governor and legislators are expected to announce soon. The sides disagreed for months over who should receive refunds and how much they should get. Last week lawmakers sent Newsom a preliminary state budget plan totaling more than $300 billion, a framework that included their initial proposal to provide $8 billion in tax refunds. The deal on refunds comes after President Biden asked Congress to approve a gas tax holiday through September, suspending the federal gas tax in an effort to bring down gas prices by 18 cent a gallon across the nation. The Democratic leader said he would appoint a select committee to determine steps the state can take to reduce gas prices, looking beyond just rebates.

Source: Los Angeles Times June 25, 2022 08:12 UTC