State Lawmakers Approve $600 Stimulus Payments For 5.7M Californians!

photocredit: gettyimages

California lawmakers cleared the way for 5.7 million people to get at least $600 in one-time payments which is part of a state-sized coronavirus relief package aimed to help lower-income people.

The bill was based by the state legislature, moving faster than their counterparts in Congress who are considering another round of stimulus checks for the nation. According to Gov. Gavin Newsom, he said he will sign it into law and people who are eligible for money should get it at between 45 days and 60 days after receiving their state tax refunds. About $2.3 billion of the money will go to the people who claim and receive the California earned income tax credit, which is people who earn $30,000 a year or less.

Another $470 million will go to people who earn a maximum of $75,000 per year after deductions and use an individual taxpayer identification number to file their income taxes. California has the money to do this in part because the state, has lots of wealthy people who have been less impacted by the pandemic and continue to pay taxes.

Click here for more info.