Last week, the Legislature of California approved a budget bill worth $262.6Bn. In the bill, funds were set aside for a round of second $600 stimulus checks. This follows California finding a massive surplus in its budget, along with the federal aid bundle for the year.
The CA Stimulus Check Is Newsom’s Proposal
The legislation comprised of a budget bill proposed by Governor Gavin Newsom and the measure of the legislature. One of the biggest approved programs in the budget was an expansion for the Stimulus Checks for the Golden State, worth $12Bn. This means that eligible residents will get direct payments of $600.
Residents of California must earn a maximum of $75,000 as their AGI to be eligible for the stimulus check. In May, while visiting California’s Oakland, Newsom had said stimulus checks that are direct, go into the accounts of people as direct relief. He thought that was most important.
The bill will also pay $500 to families that have children. Families that have no documentation will also be paid $500. By the legislatures’ measure, almost $1.5Bn was allocated as grants for small businesses. This means that businesses can be receiving a stimulus check ranging from $5000 to $25000.
However, reactions were different among the legislative leaders of the legislation across the aisle following the bill’s approval. Joaquin Arambula, a Democratic Assemblyman, said that the budget will make a transformative change. It will not be the previous normal but that was never the intention. Jose Medina, Democratic Assemblyman, they are building the future with the budget.
However, many Republicans were alarmed by the bill. They argued that many state departments will be incurring losses in the next two to three years. The stimulus checks will be sent by the CFTB (California Franchise Tax Board). The dates are yet to be announced.
