Newsom Proposes $600 Stimulus Checks For California Taxpayers
As California prepares to lift COVID-19 restrictions, Gov. Gavin Newsom is announcing details on what his office describes as his economic recovery package for the state. The full "California Comeback Plan" would cost approximately $100 billion, which Newsom's office says is meant to help the state emerge from the pandemic stronger than before.
Read more below or watch the full press conference here:
Newsom said the state is projecting a $75.7 billion budget surplus. Because of that, he’s proposing a $12 billion tax rebate.
The rebate would send direct payments of $600 to individual taxpayers earning up to $75,000. Families with dependents, including undocumented families, will also be eligible for an additional $500, according to a statement from the governor's office.
“That tax rebate will impact just shy of 80% of all tax filers, will get a direct stimulus check, will get a direct relief payment,” Newsom said during Monday's news conference.
The governor also wants to double the amount of state rental assistance. He proposes using $5.2 billion dollars to pay all the back rent for tenants who have fallen behind on their payments and using $2 billion in direct relief to pay down overdue utility payments (water, gas, electric).
The plan still requires approval by the state legislature.