When it comes to the possibility of issuing new stimulus checks, Congress is in a holding pattern at the moment — and will remain that way at least through early January. That’s thanks to West Virginia Democratic Senator Joe Manchin tanking any chance of the Senate passing its version of President Biden’s latest stimulus check bill before the body adjourned for the year a few days ago. But just because Congress hasn’t decided on anything new yet? That doesn’t mean people are shut out of the possibility of new checks completely. Case in point: Just look at what California is doing, with its Golden State Stimulus 2 effort.
New Golden State Stimulus 2 checks coming
After that? Just one more batch of the payments is going out. That final mailout will span December 27 through January 11, according to the state’s Franchise Tax Board. Also important to know: Residents should allow up to three weeks to get their paper check in the mail.
According to the Franchise Tax Board, the state of California has either issued or announced almost 8.1 million Golden State Stimulus 2 payments. That number is current as of December 23. And altogether, those payments are valued at almost $5.8 billion.
California program details
Here, meanwhile, is a bit of a refresher, as far as what’s going on with this stimulus payment program. “Taxpayers who have California adjusted gross income of $1 to $75,000 for the 2020 tax year — and who (filed) their state tax return by October 15, 2021 — are eligible for the Golden State Stimulus 2,” the franchise board’s website explains.
The state’s federal pandemic funds, as well as a $75.7 billion state budget surplus, are what’s been funding these checks. And the California Franchise Tax Board is the agency that’s sending it all out. Some families with eligible dependents will get up to $1,100. But the main stimulus check payment going out here is for $600.
Additional requirements: Recipients must have been California residents for more than half of the 2020 tax year. They must also be a California resident on the date their payment is issued.
Biden’s plan stalled in Congress
The reason why all eyes are on initiatives like these around the US right now is because Congress has hit a legislative brick wall regarding new stimulus checks.
President Biden’s nearly $2 trillion Build Back Better legislation would have funded 12 more months of checks. Those were to be an extension of the monthly child tax credit payments.
Democrats needed Manchin’s vote in the Senate, however. And when they didn’t get it, that kicked action on the legislation into the new year. Unfortunately, the IRS also made clear that means it won’t be sending out a new child tax credit check on January 15.