As part of a broader pandemic recovery plan, Californians are set to get tax rebates of up to $1,100. This is possible because of an unexpected $75 billion budget surplus a surprise to officials who predicted a deficit of more than $50 billion.
This proposal was revealed by Gov. Gavin Newsom who sees this as a means to drive the state’s economic recovery from the coronavirus pandemic.
This budget surplus is due to taxes paid by rich Californians who did well during the pandemic.
The payments will help cover $5.2 billion in back rent and $2 billion for overdue utility bills for those who fell behind during the pandemic.
– Ella Breedlove