On Wednesday, Jan. 6, California Gov. Gavin Newsom announced the Golden State Stimulus, a new financial recovery assistance that would provide direct payments to California residents.
The Golden State Stimulus targets California residents facing eviction, by providing $2.6 billion in federal rental assistance, and the extension of renter protections. Newsom also said this stimulus package would send direct payments to Californians who lost working hours due to the COVID-19 pandemic.
“We want immediate action to distribute $2.4 billion in what we call the Golden State Stimulus,” Newsom announced Wednesday. “This is our version of what the federal government just did, but instead of $600 … we want to double that – we want $1,200 in people’s pockets.”
Newsom’s latest budget proposal plan came in an address via Zoom, as he was joined by other state legislative leaders and members of the public.
Newsom spoke about the stress endured by millions of residents under the renter eviction protection program, set to expire soon.
“Through the Golden State Stimulus, Californians who have been impacted by this pandemic will get help to provide for their families and keep a roof over their heads,” said Newsom. “This plan will provide relief for Californians in need by distributing $600 rapid cash support – for some, at least $1,200 when coupled with federal relief – and extend the eviction moratorium.”
Specifically, the Golden State Stimulus will send direct payments to 2019 taxpayers who received a California Income Tax Credit in 2020, which are available to taxpayers who earn $30,000 or less annually.
Wednesday’s Golden State Stimulus announcement comes a day after the governor announced the Equitable Recovery for California’s Businesses and Jobs plan, a $4.5 billion budget proposal that will allocate more than $1 billion for small businesses struggling from the COVID-19 pandemic.
On Tuesday, Dec. 5, the governor hinted at the additional efforts being made at the legislative level to help residents and small businesses in California financially navigate the pandemic.
Newsom said small businesses will be able to receive $5,000 to $25,000 grants through avenues available within the Equitable Recovery for California’s Businesses and Jobs plan, that will be introduced later this week.
“I want people to know that this $4.5 billion package is not all we will be doing for small businesses, but it is a significant investment and we’re looking forward in this new budget,” Newsom said.