Bay Area

Newsom Announces New Round of Stimulus Checks, Budget Surplus of Nearly $76 Billion

If approved by the Legislature, the $600 payments announced Monday would go to income-eligible taxpayers who did not receive the first stimulus payment as well as additional $500 payments to families with dependents and families living in the state without legal permission.

Published

3 years ago

May 14, 2021

Mia Lane

California residents who made up to $75,000 last year would be eligible for a $600 stimulus check under a budget proposal Gov. Gavin Newsom outlined Monday in Oakland.

In a briefing at the Spanish Speaking Unity Council, Newsom said the state would spend some $12 billion on the payments, made possible by a projected general fund surplus of $75.7 billion.

Roughly $38 billion in total from that surplus would be used for pandemic relief programs like the stimulus checks, $5.2 billion to assist low-income renters pay off their back rent and $2 billion to help residents pay off unpaid utility bills.

“We think this is a significant, direct not only stimulus, but direct relief to millions and millions of Californians in need,” Newsom said.

The state sent out initial $600 stimulus payments earlier this year as part of Newsom’s initial budget proposal in January.

Those payments, which the Legislature approved in February, were targeted at residents who made less than $30,000 in 2020, received the California earned-income tax credit or filed their taxes with an Individual Tax Identification Number.

Just as with those initial payments, the $600 checks Newsom announced Monday would be dispersed to state residents regardless of their immigration status, as people living in the U.S. without legal permission were not eligible for the three federal stimulus payments issued over the last 15 months.

“I love saying Oakland, California, is the most unapologetic sanctuary city in America,” Oakland Mayor Libby Schaaf said at the briefing. “I also commend Gov. Gavin Newsom for recognizing that our immigrant workers will be taken care of by the state of California.”

The funding to assist with unpaid rent and utilities, Newsom said, is part of an effort to pay off all back rent owed in the state as a result of the pandemic.

The governor noted that the results of studies on the amount of back rent owed in the state have varied between $2.5 billion and north of $5 billion, but the proposal sets aside $5.2 billion for back rent out of “an abundance of caution.”

Newsom is expected to tease out other portions of his May budget proposal revision this week before unveiling the full proposal on Friday.

Newsom and the state legislature will then have until June 15 to approve the budget before the new fiscal year begins on July 1.

Mia Lane

Posts by Mia Lane

Up Next

REVIEW: A Tale of Two Mothers in Radio Play of Toni Morrison’s “The Bluest Eye”

Don't Miss

Greenlining Institute and RePower LA Coalition Applaud Gov. Newsom’s Relief Plans

Mia Lane

Click to comment

Activism

Oakland Post: Week of April 24 – 30, 2024

The printed Weekly Edition of the Oakland Post: Week of April 24 – 30, 2024

Published

2 days ago

April 26, 2024

Oakland Post

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Oakland Post

Posts by Oakland Post

Alameda County

DA Pamela Price Stands by Mom Who Lost Son to Gun Violence in Oakland

Last week, The Post published a photo showing Alameda County District Attorney Pamela Price with Carol Jones, whose son, Patrick DeMarco Scott, was gunned down by an unknown assailant in 2018.

Published

6 days ago

April 22, 2024

Oakland Post

District Attorney Pamela Price with Carol Jones

Publisher’s note: Last week, The Post published a photo showing Alameda County District Attorney Pamela Price with Carol Jones, whose son, Patrick DeMarco Scott, was gunned down by an unknown assailant in 2018. The photo was too small for readers to see where the women were and what they were doing. Here we show Price and Jones as they complete a walk in memory of Scott. For more information and to contribute, please contact Carol Jones at 510-978-5517 at morefoundation.help@gmail.com. Courtesy photo.

Oakland Post

Posts by Oakland Post

Bay Area

State Controller Malia Cohen Keynote Speaker at S.F. Wealth Conference

California State Controller Malia Cohen delivered the keynote speech to over 50 business women at the Black Wealth Brunch held on March 28 at the War Memorial and Performing Arts Center at 301 Van Ness Ave. in San Francisco. The Enterprising Women Networking SF Chapter of the American Business Women’s Association (ABWA) hosted the Green Room event to launch its platform designed to close the racial wealth gap in Black and Brown communities.

Published

1 week ago

April 20, 2024

Oakland Post

American Business Women’s Association Vice President Velma Landers, left, with California State Controller Malia Cohen (center), and ABWA President LaRonda Smith at the Enterprising Women Networking SF Chapter of the ABWA at the Black Wealth Brunch.

By Carla Thomas

The Enterprising Women Networking SF Chapter of the American Business Women’s Association (ABWA) hosted the Green Room event to launch its platform designed to close the racial wealth gap in Black and Brown communities.

“Our goal is to educate Black and Brown families in the masses about financial wellness, wealth building, and how to protect and preserve wealth,” said ABWA San Francisco Chapter President LaRonda Smith.

ABWA’s mission is to bring together businesswomen of diverse occupations and provide opportunities for them to help themselves and others grow personally and professionally through leadership, education, networking support, and national recognition.

“This day is about recognizing influential women, hearing from an accomplished woman as our keynote speaker and allowing women to come together as powerful people,” said ABWA SF Chapter Vice President Velma Landers.

More than 60 attendees dined on the culinary delights of Chef Sharon Lee of The Spot catering, which included a full soul food brunch of skewered shrimp, chicken, blackened salmon, and mac and cheese.

Cohen discussed the many economic disparities women and people of color face. From pay equity to financial literacy, Cohen shared not only statistics, but was excited about a new solution in motion which entailed partnering with Californians for Financial Education.

“I want everyone to reach their full potential,” she said. “Just a few weeks ago in Sacramento, I partnered with an organization, Californians for Financial Education.

“We gathered 990 signatures and submitted it to the [California] Secretary of State to get an initiative on the ballot that guarantees personal finance courses for every public school kid in the state of California.

“Every California student deserves an equal opportunity to learn about filing taxes, interest rates, budgets, and understanding the impact of credit scores. The way we begin to do that is to teach it,” Cohen said.

By equipping students with information, Cohen hopes to close the financial wealth gap, and give everyone an opportunity to reach their full financial potential. “They have to first be equipped with the information and education is the key. Then all we need are opportunities to step into spaces and places of power.”

Cohen went on to share that in her own upbringing, she was not guided on financial principles that could jump start her finances. “Communities of color don’t have the same information and I don’t know about you, but I did not grow up listening to my parents discussing their assets, their investments, and diversifying their portfolio. This is the kind of nomenclature and language we are trying to introduce to our future generations so we can pivot from a life of poverty so we can pivot away and never return to poverty.”

Cohen urged audience members to pass the initiative on the November 2024 ballot.

“When we come together as women, uplift women, and support women, we all win. By networking and learning together, we can continue to build generational wealth,” said Landers. “Passing a powerful initiative will ensure the next generation of California students will be empowered to make more informed financial decisions, decisions that will last them a lifetime.”