California legislators have been debating whether or not to issue another stimulus check due to the state’s enormous budget surplus. The debates erupted after Republican State Senator Brian Jones recently advocated for a significant increase in tax rebates.
Jones used rice grains in a video released virtually to highlight and break down the state’s current surplus, which stands at an impressive $45.7 billion as of last month. The Senator went on to say that if every single rice grain were worth $100,000, California’s $45 billion surplus would be due to taxes that have been over-collected by this much.
Another stimulus check could be on the way for California
Jones went on to say that the sum was more than enough to present every single Californian with a $1,125 tax rebate or a $4,000 stimulus check payment for a family of four. More stimulus payments were clearly a possibility, according to the report, because the excess was very likely to exceed the state’s constitutional limit, known as the Gann Limit.
This effectively limits the amount of tax revenue that the state of California can spend while offering legislators alternatives for what to do with the funds that remain—including returning them to legislators in the form of a stimulus check rebate.
As per Digitalmarketnews, it goes without saying that some people could benefit from a stimulus payment, but it will be ineffective because most people in the state are already hurting owing to inflation.
For the past few months, the state has been battling with rising costs across the board, making it increasingly difficult for families who are already struggling to make ends meet. It’s also causing a lot of problems for families who didn’t have any problems before because they now have to pay extra to get services. In light of this, it’s unclear how much a $1,400 stimulus check would aid the population.