Newsom signs $7 6B package that includes $600 one-time payments to some residents, small business help southtahoenow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from southtahoenow.com Daily Mail and Mail on Sunday newspapers.
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The COVID-19 relief package was made possible by higher-than-expected tax revenues in California despite the economic hardships brought on by the pandemic.
Some 3.8 million of the payments will go to households that qualified for the state earned income tax credit for 2020, which is available to residents earning less than $30,000 annually.
About 565,000 stimulus payments will go to those
with individual tax identification numbers who did not receive federal stimulus payments and whose income is below $75,000, many of whom are immigrants in the country illegally. Taxpayers with individual identification numbers who also qualify for California’s state earned income tax credit would receive a total of $1,200 in state stimulus.
Crafted by Gov. Gavin Newsom and legislative leaders last week, the pandemic assistance plan also includes $4 billion in grants, tax breaks and fee waivers for small businesses.
Who Qualifies For California Stimulus? How to See if You re Eligible For $600 Checks
On 2/23/21 at 8:08 AM EST
California lawmakers have approved a bill that will see 5.7 million residents each receive a $600 stimulus payment. The bill will be signed into law by California Gov. Gavin Newsom on Tuesday.
Those eligible for the stimulus payment include people receiving CalEITC (California Earned Income Tax Credit) this year as well as residents who are currently qualified under several existing federal assistance programs.
Some Californians could receive the $600 checks as soon as about a month after filing their 2020 tax returns.
The $600 payments form part of the state s $7.6 billion COVID-19 relief package, which includes $2.1 billion in grants and fee waivers for small businesses.