Gov. Newsom’s $100 Billion California Comeback Plan Includes Largest State Rebate Tax Ever
California Gov. Gavin Newsom announced his $100 billion California Comeback Plan, which is aimed at helping the state bounce back from the economic impact stemming from the coronavirus pandemic.
Released on Monday, the outlined plan includes the largest state rebate tax in U.S. history at nearly $12 billion.
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The California Comeback Plan majorly expands the Golden State Stimulus checks, making two-thirds of Californians eligible to receive direct payments of $600. Middle-class families that make up to $75,000 will be eligible under the new plan, and qualifying families with dependents, including undocumented families, will be eligible to receive an additional $500.
“California’s recovery is well underway, but we can’t be satisfied with simply going back to the way things were,” said Governor Newsom in a statement. “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.”
California will also offer the largest renter assistance package of any state in the U.S. under the Comeback Plan. Billions of dollars will be allocated to help citizens completely pay their back rent, future rent and overdue water and utility bills.
Newsom likely faces a recall election later this year, and one of his potential challengers is none other than reality TV star and former Olympic gold medalist Caitlyn Jenner, who announced her run last month.
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