The state of California has passed the Golden State stimulus bill worth $9.6 billion which will give relief to the low-income households and businesses – in the wake of the COVID-19 pandemic. California becomes the first state to pass its own stimulus legislation to revive the wounded local economy.
The federal government has not yet released funds under the American Rescue Plan proposed by President Biden, prompting struggling states to devise their own temporary rescue.
The Golden State stimulus bill was signed by Governor Gavin Newsom into law, aimed at providing financial relief to the families drastically affected by the ongoing pandemic.
Governor Newsom has claimed that $600 stimulus checks will be provided to boost the federal direct payment in the upcoming weeks. The $600 stimulus checks will be distributed amongst the general public to provide rapid cash support for the residents. The distribution will begin after the finalization of the tax return process for the current year.
Who is eligible for the $600 stimulus checks?
Ideally, residents whose earned income is less than $30,000 per year, and immigrants who have earnings of less than $75,000 per year are eligible for the $600 stimulus checks, provided they have claimed Earned Income Tax Credit for the year 2020.
People who are eligible for different public assistance programs like Federal supplemental security income (SSI), family welfare program (CalWORKs), State supplementary payment (SSP), and the Cash Assistance Program for immigrants are also eligible to get the $600 stimulus checks.
Apart from the rapid cash checks, the Golden State stimulus bill has also sanctioned $2 billion in grants to small businesses.
The economic relief package is a huge success for Governor Newsom.
On the other hand, the Democrats are hopeful that the stimulus package approved by President Joe Biden will be ready by March.