Newsom: The Largest Economic Recovery Package In State History
Governor Gavin Newsom highlighted the immediate relief available for Californians as part of the largest Economic Recovery Package in state history.
Newsom was Wednesday’s KVML “Newsmaker of the Day”.
The highlights include:
1) Two out of every three Californians will get Golden State Stimulus checks, providing $12 billion in total relief, which is the largest state tax rebate in American history.
2) Over $4 billion will be available for small businesses under the largest small business relief program in the nation.
3) $5.2 billion for the largest rent relief program in the country, with an additional $2 billion for overdue water and utility bills.
On the heels of signing transformative state budget legislation on Monday, including the biggest economic recovery package in California’s history, Newsom proclaimed that “California is roaring back from this pandemic because we have your back. It’s in that spirit that we’ve used California’s historic surplus to make historic investments. In partnership with the Legislature, we’re providing direct relief to struggling families and money into the pockets of small business owners across the state. Your incredible resilience and perseverance have brought our state to this moment, and California is committed to making you the foundation of our recovery.”
With additional investments signed into law by the Governor, the California Comeback Plan expands Golden State Stimulus payments to middle class families for a total of $12 billion in stimulus checks – the biggest state tax rebate in American history. Nearly two thirds of Californians now qualify for a stimulus check of $600 and qualified families with kids will receive an additional $500.
The Governor said that Californians can still file their taxes to qualify for the Golden State Stimulus up until October 15, 2021.
Under the Governor’s Plan, California is now offering the largest renter assistance package of any state in America with a total of $5.2 billion to help low-income renters and landlords, covering 100 percent of back-rent and all prospective rent for several months into the future. The Plan includes an additional $2 billion for overdue water and utility bills.
Creating the largest small business relief program in the nation, the Plan invests an additional $1.5 billion for a total of $4 billion in direct grants to California’s small businesses – on top of $6.2 billion in tax relief. Working to address opportunity gaps, the Plan also invests $35 million for the California Dream Fund to provide microgrants of up to $10,000 to seed entrepreneurship and spur small business creation in underserved groups and communities. In addition, $500 million in new grants will be used to create opportunities for workers who lost their jobs during the pandemic.
The “Newsmaker of the Day” is heard every weekday morning at 6:45, 7:45 and 8:45 on AM 1450 and FM 102.7 KVML.