As California continues to recover after the pandemic, the leaders of the state have approved of a recovery plan worth $100Bn. It includes stimulus checks from the state, rent relief payments, as well as grants for businesses.
Second CA Stimulus Check May Not Be The Last
On Monday, California Governor Gavin Newsom signed off on several recent actions that he terms as the plan for a California Comeback. He approved legislation on the state’s budget that will send out an immense package of relief money to struggling businesses and residents.
On Tuesday, Newsom said that his administration is keeping in mind the fear, stress, and anxiety that every resident had to experience during the previous few months. He added that this state stimulus check package is the biggest in the entire United States. It was possible only because there was a surplus of over $80Bn in the state’s budget.
Newsom added that this was the biggest surplus in the history of the state. His administration has decided to harness it and make investments that will transform multiple aspects of life to help bring every community back in full form after the pandemic. As a result, future generations can continue to pay dividends.
The budget is going to help in the recovery by sending out stimulus checks for Californians who are middle-class. Small businesses will also get immediate relief. It is expected that more measures will be approved in the next few days. This includes a savings account credited with $500 for kids who belong to families with lower incomes.
The six bills for the budget that was signed on Monday include an expanded Golden State Stimulus check program. It will include paychecks worth $600 to taxpayers of California whose annual AGI is below $75,000. Earlier the AGI limit was $30,000. Families with kids will also get an additional stimulus check worth $500.