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Sunday, November 27, 2022

Latest Round Of Golden State Stimulus Check Worth $1,100 To Be Out This Week

California’s Tax Board has said that most pending stimulus checks will be disbursed by October 29 through direct transfer. Paper checks will start going out starting November 1. The stimulus check will be worth $600 plus another $500 for families with children. All payments will be subject to the stipulated qualifying income that should be $75,000 or less.

The second batch of the California checks has gone out to 4.5M residents of the state. Individuals and families who have received their first check will not get another.

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Residents can log in online to check the amount they will receive in their stimulus check.

The federal government has put on hold any move towards issuing a 4th stimulus check. but the appeal for universal federal support through stimulus checks continues as the petition by online restaurateur Stephanie Bonin has collected over 2.915 million votes counting Tuesday.

Several Senators, including Bernie Sanders, Cory Booker, and Elizabeth Warren, have also pushed for a 4th check.

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The mayor of Chicago has said that the check will not affect their spending on city services. he said that the funds would also be utilized to pay for budget deficits.

The new spending plan proposed by Mayor Lightfoot gives more money for affordable housing, cleaning vacant lots, planting over 75,000 trees, and spending on upgrading the police department.

People Do Not Use Stimulus Check Funds For Wasteful Expenditure

In a significant study, a basic general income experiment has revealed that people do not spend stimulus checks on alcohol or drugs. Instead, people were incentivized to work even more as they had more breathing space.

A basic earnings study was attempted 3 years back in Stockton in California, initiated by Michael Tubbs, the Mayor. The study gave stimulus checks worth $500 each month to 125 disadvantaged homes for a couple of years.

The results were amazing. It revealed that full-time engagement went up among the participating families. Significantly, the payment was sensibly spent on basics such as utilities and food.

The beneficiaries were also found to be less depressed and anxious.

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