California car owners will get $400 from Newsom's gas price cut.

Gov. Gavin Newsom on Wednesday unveiled his long-awaited tax refund plan to send $400 to Californians for each registered vehicle, a move that would benefit families with more cars — even the state's wealthiest residents — while excluding those without cars.

Newsom's $11 billion plan includes savings for those who use public transportation and offsets rising gas prices.

The plan includes $750 million in grants for free or reduced public transit fares, but non-registered vehicle owners won't get a refund.

The governor, who is seeking re-election this year, would cap payments at $800 per household with multiple vehicles registered to different family members.

Newsom said the state is "acting immediately to help Californians who are facing higher gas prices."

Average gas prices in California are currently $5.875 per gallon, up over $1 from one month ago and $2 from a year ago.

Legislative leaders from the Senate and Assembly introduced their own proposal last week to provide financial relief from rising costs of all goods with more money for families.

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