(CBM) – Gov. Gavin Newsom sounded upbeat when he announced at a press briefing Friday afternoon that he has submitted a $227 billion budget for the 2021-22 fiscal year to the State Legislature for approval.
The spending plan reflects a brighter picture than the gloomier one Newsom presented last summer when he projected a steep budget shortfall of more than $50 billion. In this proposal, the governor’s office is estimating that there will be a budget surplus of about $15 billion over the 2020-21 fiscal year, with nearly $3 billion stashed in the state’s operating reserve.
“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,” said Newsom. “As always, our Budget is built on our core California values of inclusion, economic growth and a brighter future for all.”
The proposal includes
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