Gov. Gavin Newsom signed a comprehensive $7.6 billion stimulus package for California on Tuesday that supports small business and distributes a $600 one-time payment to low-income individuals.
The grants for small businesses, nonprofits and cultural institutions are said to be between $5,000 to $25,000 grants for small businesses, and the fees associated with cosmetology, barbering, restaurant and bar alcohol licenses will be waived for the next two years.
Newsom said 5.7 million Californians will qualify for the direct payment of $600, and will be made available to those who qualify for low- to moderate-income tax credits through the California Earned Income Tax Credit; a payment to families that make less than $30,000 a year.
Stimulus checks will also be distributed to those who have been beneficiaries of CalWorks, as well as the elderly and disabled on the state’s Supplemental Security Income program, the State Systemic Improvement Plan, and the Cash Assistance Program for Immigrants.
Small businesses will be able to apply for their share of the $2 billion in grants, and both the small business and individual payments will be in addition to any federal aid money, Newsom said.
Families who qualify under both the California Earned Income Tax Credit and a qualified child using Individual Taxpayer Identification Numbers (ITINs) with an income no greater than $75,000, will receive grants of $1,200.
In addition to the money heading to families and small businesses, Newsom announced millions of dollars would be going to food banks, agricultural workers, low-income college students and child care.
