SACRAMENTO, Calif. — People making less than $75,000 could expect a stimulus payment of $600 following the signing of the 2021 budget package.
On Monday, California Gov. Gavin Newsom signed budget bills totaling $100 billion, which includes economic relief programs to help ease the burden exacerbated by the coronavirus pandemic. Newsom said in a press release the budget package's focus will provide relief to people in California who need it the most.
“Harnessing the largest surplus in state history, we’re making transformative investments across the board that will help bring all our communities roaring back from the pandemic – and pay dividends for generations to come,” Newsom said.
Just over a year ago, it was estimated there would be a $54.3 billion budget shortfall. Instead however, the state is looking at a $75.7 billion surpluses.
With the signing of SB 139, two out of every three Californians qualify for three Golden State Stimulus check. This would be a tax rebate of $12 billion, expanding on the direct payments sent by California earlier in 2021.
Additionally, California plans to provide a total of $5.2 billion to help low-income renters and landlords, covering 100% of back-rent and all prospective rent for several months into the future. An additional $2 billion is available for past-due water and utility bills and money for tenant legal assistance.
The new legislation invests $4 billion in direct grants to California’s small businesses, on top of the $6.2 billion in tax relief, aimed to help small business owners. The budget package also creates a $120 million tax credit grant program to incentivize businesses to relocate to the state.
The legislation signed by Newsom on Monday includes:
- AB 141 – Budget Act of 2021: Department of Cannabis Control: licensure: safety and quality assurance.
- SB 129– Budget Act of 2021.
- A line-item veto for SB 129 can be found here.
- SB 139 – Golden State Stimulus II: Golden State Stimulus.
- SB 146 – Correctional facilities.
- SB 151 – Economic development.
- SB 158 – Hazardous waste.
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