"It's the biggest economic recovery package, period. Full stop," said Newsom.
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From shortfall to surplus
Last year, the state faced a $54.3 billion budget shortfall.
This year, California has a better problem, a $75.7 billion surplus.
The recovery package includes $100 billion proposed for California through 2022.
If approved, here's how it may help you in the short-term.
You may qualify for a $600 stimulus check
- Part of the budget proposal includes a $12 billion tax rebate for Californians.
- This means if you earn up to $75,000 per year you will receive at least $600 stimulus check when you file your taxes.
- This applies to two out of every three Californians -- nearly 80% of tax filers in California.
- You must file your taxes by Monday to receive this aid, assuming you are eligible.
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If you have a child you may receive an additional $500 (just one time, not per child).
I-10 filers, regardless of immigration status, will receive an additional $500.
"This is a good incentive to file your taxes on Monday to get a direct stimulus check if you're in that income bracket," Newsom said.
Are you a renter? Have you missed payments? You're in luck.
Plus, more perks on parking tickets.
- $300 million proposed for Traffic Fine Forgiveness
- Low-income Californians will get any traffic ticket received during the pandemic through June 30, 2021 waived.
- Eligibility will be determined by the state's Judicial Council.
Aside from immediate relief, the recovery plan also includes funding to fight long-term challenges.
- $20 billion to invest in public schools
- $5.1 billion to tackle the state's drought, water infrastructure, and climate change
- $12 billion to address the state's homeless crisis