California Governor: Largest Economic Recovery Package

California Roars Back: Governor Newsom Highlights Immediate Relief for Californians as Part of Largest Economic Recovery Package in State History

Two out of every three Californians to get Golden State Stimulus checks, providing $12 billion in total – the largest state tax rebate in American history

Over $4 billion for small businesses under the largest small business relief program in the nation

$5.2 billion for largest rent relief program in the country, additional $2 billion for overdue water and utility bills

LOS ANGELES, CA (STL.News) On the heels of signing transformative state budget legislation including the biggest economic recovery package in California’s history, Governor Gavin Newsom visited a youth and family center in Los Angeles serving Californians who are receiving direct relief through the $100 billion California Comeback Plan, including cash payments from the Golden State Stimulus and support under the largest renter assistance and small businesses relief programs in the nation.

California is roaring back from this pandemic because we have your back,” said Governor Newsom.  “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.

While visiting a nonprofit that supports members of the El Sereno community through a variety of services, the Governor highlighted that Californians can still file their taxes to qualify for the Golden State Stimulus 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.

Governor Newsom’s California Comeback Plan seizes this once-in-a-lifetime moment to address long-standing challenges by taking on threats to our state’s future and ensuring every California family – regardless of their race or zip code – can thrive.

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