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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar

3

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
FinanceEconomic Stimulus

Here’s when $600 California stimulus checks will arrive

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
September 2, 2021, 12:20 PM ET
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Checks are on the way to millions of California residents as the state begins distributing its own stimulus package.

The first batch of $600 stimulus checks will hit bank accounts tomorrow, with additional batches coming every two weeks. Some 600,000 people will see the financial boost this week, according to the state Franchise Tax Board.

All totaled, roughly two-thirds of the state’s population will receive the stimulus payments. Most are expected to be issued before Oct. 15. Eligible taxpayers with dependents will receive $1,100.

The checks are being disbursed to people who make less than $75,000 per year. This is the second round of $600 checks California has issued. The first, this spring, went to those who make under $30,000 per year.

The payments come as California governor Gavin Newsom faces a recall election.

California’s not the only state offering financial assistance to its residents. New Mexico plans to offer a one-time $750 payment to certain low-income residents. And many states are giving (or have given) hazard pay bonuses to teachers and education professionals.

Georgia, in March, approved plans to give $1,000 to everyone from teachers to bus drivers. Tennessee is set to give educators a $1,000 bonus before Jan. 1, 2022. And last month, teachers and principals across Florida began receiving $1,000 checks.

The state checks come as the federal government continues to distribute $1,400 stimulus checks that began disbursing in March. To date, the IRS and Treasury Department have sent out checks to 171 million Americans, totaling over $400 billion. The IRS will continue making Economic Impact Payments on a weekly basis, it says.

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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