Governor Gavin Newsom last week submitted his 2021-22 State Budget proposal to the Legislature – a record $227.2 billion fiscal blueprint that is a staunch reversal from summer fears of a drop in California revenue.
The proposal provides funding for immediate COVID-19 response and relief efforts where Californians need it most while making investments for an equitable, inclusive and broad-based economic recovery. The Budget has benefited from stock market gains and income growth among the state’s wealthiest residents, which paints a picture of disconnect between California’s affluent and those who are struggling due to COVID-19.
“In these darkest moments of the COVID-19 pandemic, this Budget will help Californians with urgent action to address our immediate challenges and build towards our recovery,” Newsom said in a statement. “As always, our Budget is built on our core California values of inclusion, economic growth and a brighter future for all. The Budget makes progress towards the goal I set when taking office to harness California’s spirit of innovation and resilience and put the California Dream within reach of more Californians. I look forward to working with the Legislature to enact these critical immediate and longer-term priorities for our state for the 40 million who call the Golden State home.”
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