Governor Newsom Signs New State Budget With Over $100 Billion In Pandemic Relief
Governor Gavin Newsom signed a new, $268 billion state budget in L.A. on Tuesday, which includes more than $100 billion to spur the state's recovery from the COVID-19 pandemic.
That spending package expands state stimulus payments to all households making up to $75,000 a year, as well as families with children, and to undocumented immigrants. It also provides more than $5 billion in rent relief for low-income Californians, and an additional $1.5 billion in grants for struggling small businesses.
Newsom says that spending is funded in part by what he called an "unprecedented" multi-billion dollar surplus.
"That allows us to do things that we couldn't have imagined doing," Newsom said.
In addition to pandemic relief, the budget also earmarks $12 billion to address homelessness in the state and nearly $3 billion for universal transitional kindergarten.