Governor Newsom just announced California’s largest tax rebate in history.
Today, the Office of California Governor Gavin Newsom announced the $100 billion California Comeback Plan, a comprehensive tax rebate plan designed to help the state recover economically from the COVID-19 pandemic. The new plan will enact the nation’s largest renter relief program, and will allocate nearly $12 billion worth of stimulus checks to eligible Californians.
NEW: CA will be expanding the Golden State Stimulus to middle class families — creating the biggest state tax rebate in US history.
2 out of every 3 Californians will now benefit from a stimulus check of at least $600. And families with kids will now get an additional $500.
— Gavin Newsom (@GavinNewsom) May 10, 2021
Plans are underway to expand the Golden Gate Stimulus to middle-class families making up to $75,000. As such, two-thirds of Californians will receive $600 direct payments, and qualified families (including undocumented families) are eligible for an additional $500.
The plan will also allocate over 5 billion dollars to an enormous renter assistance package, helping low-income Californians pay back-rent, future rent, and overdue water and utility bills.
The California Comeback plan provides immediate relief to those who need it most.
➡️Golden State Stimulus checks to 2/3 of Californians – a $12 BILLION tax rebate
➡️Largest statewide renter assistance program in the U.S.
➡️Billions to help pay utilities https://t.co/roCOuHOhSgAdvertisement
— Office of the Governor of California (@CAgovernor) May 10, 2021
“California’s recovery is well underway, but we can’t be satisfied with simply going back to the way things were,” said Governor Newsom. “We are tripling the Golden State Stimulus to get money in the hands of more middle-class Californians who have been hit hard by this pandemic. Two in three Californians will receive a check from the state and more than $5 billion in aid will be made available to those who need help paying their rent or utility bills.”
This news comes shortly after the City of San Francisco announced local relief plans for San Francisco businesses. The City is helping San Francisco restaurants apply for federal aid, and has also invested $3.75 million into Black and African American small businesses as part of the Dream Keeper Initiative.
[Featured Image: JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA / Getty Images via AFP]