Family Title Loans Provides Southgate CA Economic Updates After California's Tax Refund Announcement
South Gate CA financial services provider Family Title Loans is expressing concern for the well-being of low-income California families and individuals who won’t be receiving the new round of tax rebate payments that were approved by the state’s lawmakers. South Gate Readers can find out more about the fast and affordable financial services that Family Title Loans provides by heading over to its website at the link: http://familytitleloans.org/location/south-gate-ca/.
On June 30, 2022, California Governor Gavin Newsom approved a $308 billion state budget that allocated direct tax refunds to 23 million Californians. Eligible recipients are scheduled to get a direct deposit or debit card of up to $1,050. The state government has made available an online calculator that lets individuals determine if they qualify and, if they qualify, the amount of money that they are set to receive.
However, the state’s spending plan excludes some of its most vulnerable residents. The tax refunds, which were meant to provide relief to those struggling with higher gas prices and the increased price of essential goods, will not be going to Californians who did not file their 2020 tax returns by October 2021. In California, those earning less than $19,310 with no dependents are not required to file income taxes. Income from social security benefits and disability benefits is also non-taxable. Moreover, according to the Public Policy Institute of California, 60% of families that don’t file taxes live below the poverty line.
South Gate Democrat and Assembly Speaker Anthony Rendon attributed the decision, which is going to hurt low-income families, to a logistics failure as there isn’t a secure way to grant the relief payments to those who didn’t file taxes, as the government does not have any information on them, and those who receive social security benefits, as they are only tracked by the federal government.
Family Title Loans responded to California’s decision about limiting who is set to receive the benefits of the tax rebate by acknowledging the difficult situation that Americans are currently facing. Inflation, which is the highest that it has been since the 1980s, kicked into overdrive right around the time that the pandemic lockdowns were being lifted nationwide in early 2021. A representative for Family Title Loans said, "High gas prices are hurting those who have a fixed income." Readers can find out more about the company by heading over to its Google My Business page at https://maps.google.com/maps?cid=18159053007751506708.
South Gate, CA, residents are especially in need of the state’s help because 17.2% of its residents live below the poverty line compared to 12.3% nationally. The city’s largest industry is manufacturing which tends to have lower-paying jobs. The manufacturing industry employs 6,700 people in South Gate out of the city’s total population of 94,000 residents, according to the 2019 census. The median household income in South Gate is $52,321, far lower than the median household income across California of $78,672. The city also has a high unemployment rate of around 13% compared to the current national figure of 6%.
South Gate residents who are still struggling to make ends meet in these tough times but who are not going to benefit from the state’s tax refund initiative, can rely on the financial services provided by Family Title Loans. The company has a long history of helping those facing financial emergencies get back on their feet through its range of bespoke financial products.
The company’s approval process is very fast as applicants can get approved in as little as 30 minutes. All South Gate residents, even those who have a low credit score, can apply to Family Title Loans if they have a working vehicle, such as a car, RV, motorcycle, van, boat, or truck, that is in good condition. To qualify, the applicants need to have a steady monthly income which can even include retirement, disability benefits, or unemployment benefits.
For more information about FTL Southgate, contact the company here:
South Gate, CA 90280