Millions of Californians to receive $600
SACRAMENTO, Calif. (KYMA, KECY) - California Gov. Gavin Newsom on Tuesday signed a $7.6 billion coronavirus relief package.
The package provides $600 one-time payments to 5.7 million Californians. It also sets aside $2 billion in grants for struggling small businesses.
"The backbone of our economy is small business." said Gov. Newsom. "And we recognize, as well, our responsibility to do more and do better to help support these small business through this through this very difficult and trying time."
The measure promises much-needed relief for small business across the state. It makes those with revenues between $1,000 and $2.5 million eligible for grants of up to $25,000.
The relief package also includes two years of fee relief for the roughly 59,000 bars and restaurants with state-issued liquor licenses.
Those with incomes under $30,000 a year qualify for the stimulus payments. Most will get the $600 payment by claiming the California earned income tax credit on their state tax returns.