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Tuesday, December 7, 2021

Stimulus Check: Golden State Issues Millions Of Checks

Millions of stimulus checks were disbursed under the California Comeback Plan. How many payments have been made till the last batch were sent out by the Tax Board on 15 October?

The Golden State stimulus package worth $100B was designed primarily to rejuvenate the economy of the state that suffered a severe downturn due to the pandemic. The state’s lucrative tourism and hospitality sector was devastated as pandemic restriction continued for long periods.

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The stimulus check has been targeted at 66% of the residents of California. They are eligible for $500. Around 1.2M people received their stimulus check under the plan. Around $980M was sent in the latest batch. The total number of beneficiaries who have received the Golden State payments comes to a cumulative total of 4M.

Waiting For The Subsequent Batch Of Stimulus Checks

The total number of people eligible for the stimulus check under the Golden State plan is around 9M. the number of people who have received payments is way below half that number. The 15 October deadline for filing a state tax return should trigger another round of payment. But it will take time as the California Franchise Tax Board has an enormous backlog of forms to process.

The CFTB has put the onus on various constraints that include mailing and printing for the delay in the distribution process of the state stimulus checks.

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Other states, too, have come up with their variation of stimulus checks. Arizona is offering $2,000 to unemployed workers who join the full-time workforce, half that to people finding a part-time job. Connecticut is offering a one-time cash incentive for 10,000 of its residents if they gain employment under the Back to Work initiative.

Texas, Tennessee, Florida, and Michigan had provided cash incentives to teachers and administrators in schools.

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