Newsom Says California Has $97-billion Budget Surplus

Sacramento, CA — Governor Gavin Newsom has released his May revised budget proposal, and there will be a lot of extra, unexpected revenue for lawmakers to utilize.

At a press conference this morning, Newsom stated, “The projected operating surplus for the state of California is just shy of $100-billion. It is simply without precedent. No other state in American history has ever experienced a surplus as large as this.”

Newsom says it is primarily a result of California’s 7.8-percent Gross Domestic Product (GDP) growth.

The Governor’s Office has put out a recap of the revised plan budget, and it is located below:

 

• $18.1 Billion Inflation Relief in direct payments to help address inflation, help people pay their utility bills and rent, and reduce costs like health care and child care.
• $47.1 billion climate commitment – an increase of $32 billion this year – to tackle pollution, build climate-resilient water supplies, reduce the risk of catastrophic wildfires, ensure grid reliability and accelerate clean energy solutions, and protect communities from extreme heat.
• $660 million to ensure public safety with funding for new officers and mental health support for law enforcement, support for victims of sex trafficking, cracking down on internet crimes against children, and tackling the opioid crisis.
• $14.7 million to confront homelessness and the mental health crisis with investments to help get people off our streets and into the services and care they need, focusing particularly on Californians who suffer from mental health and substance use disorders.
• $37 billion to rebuild California with money for infrastructure including broadband and new housing, as well as a historic investment of $128.3 billion to transform public education.
• Billions of dollars to invest in Californians and the Governor’s pro-life agenda, including funding to:
  • Improve our education systems with universal preschool, after school and school meals; and expanded, more affordable childcare
  • Make health care more accessible and affordable through Medi-Cal expansion and subsidies, increased reproductive health care access, home visiting, and support for black infant health, youth mental health and suicide prevention, and addressing adverse childhood experiences.
  • Clean up our environment by tackling pollution, particularly in disadvantaged communities that bear the brunt of its impacts.
  • Ensure our communities are safe with violence prevention programs, expansive gun buyback programs and getting fentanyl and other opioids off our streets.