The state of California is set to have a $75.7 billion budget surplus, and Governor Gavin Newsom wants to channel those extra funds right back to two-thirds of Californians.
“Two in three Californians will receive a check from the state and more than $5 billion in aid will be made available to those who need help paying their rent or utility bills,” read a statement from Governor Newsom announcing the plan.
On Monday, Governor Newsom revealed that stimulus checks would be a marquee item of his $100-billion “California Comeback Plan”. The monetary boost would target the middle class and low-income Californians.
“California’s recovery is well underway, but we can’t be satisfied with simply going back to the way things were,” continued Newsom’s statement. “We are tripling the Golden State Stimulus to get money in the hands of more middle-class Californians who have been hit hard by this pandemic.”
The simplified dollar tag explanation means that Californians earning up to $75,000 a year would receive $600 dollars. Families with children would receive another $500.
The release from the Governor’s office billed it as “the largest state tax rebate in history”.
The California Comeback Plan will also include a comprehensive renter assistance package, which will include “billions of dollars to help low-income Californians pay back 100 percent of their back-rent,” funds to address overdue water bills, and additional subsidies to cover future rent.