The Golden Gate Stimulus is a $3.8 billion package approved in February that provides new stimulus checks to California residents. California Governor Gavin Newsom signed the $100 billion California Comeback Plan into law in July.
In October, a total of 1.15 million payments worth $857 million will be distributed as part of California’s Golden State Stimulus II program, putting some extra cash in recipients’ pockets and bank accounts. According to BGR, approximately 4.5 million Golden State Stimulus II payments totaling $3.2 billion have been made thus far.
GSS II Program
On 3.3 million of those payments, direct deposits were made, and the remaining 1.2 million checks were mailed as paper checks. The latter process began on November 1, so they should get one this week if a recipient hasn’t already received one. Residents of the Golden State are receiving stimulus payments of up to $1,100, as per BGR.
Californians who had been hard hit by the pandemic could get back on their feet thanks to the Golden State Stimulus program. As a result, it provided additional aid to low-income immigrants who had previously been excluded from previous rounds of federal stimulus payments.
According to ABC10, California’s GSS II program provides grants of up to $1,100 to low-income residents who earned $75,000 or less in the previous year — $600 for the individual and an additional $500 for a qualifying dependent. The funds came from the state’s most recent budget, which lawmakers approved.
California Could Afford It
California began issuing checks via direct deposit in August and began mailing them out in October. The wait time will be longer if the recipient receives a paper check; the California Franchise Tax Board recommends allowing up to three weeks for delivery after the check is sent.
According to Forbes, California can afford these stimulus payments because the pandemic did not affect the state’s wealthiest residents as severely as the rest of the population. Many of these people work in the technology industry, which benefited greatly from the pandemic. By 2020, total capital gains in California are expected to be around $174 billion.
On the other hand, on October 30, nearly 3 million people have signed a petition urging Congress to issue $2,000 monthly stimulus checks.