Governor Gavin Newsom has unveiled an optimistic new budget plan which is anticipating $14 billion dollars more in tax revenue than expected this year from the state’s top earners.
Newsom says the $227 billion dollar budget will be balanced, yet provide new support during the pandemic for schools, struggling businesses, and hard hit families.
The governor says his proposal includes $85 billion dollars for public schools, which is the largest amount in state history.
He’s also proposing a $2.4 billion dollar relief program which would give one-time $600 dollar checks to help the state’s struggling low income residents.
The governor’s plan also includes more funding to help businesses struggling because of the pandemic.
Even with the new spending, the proposal calls for increasing the state’s budget reserves by a billion dollars. It now goes to the state legislature for consideration.
