Governor announces budget plans to help small business and individuals

Governor Gavin Newsom previewed elements of his 2021-22 State Budget proposal yesterday and today, outlining plans to provide support for small business and low-income Californians.

Today’s announcement focused on individuals, proposing a “Golden State Stimulus”, which would provide a $600 rapid cash support directly to roughly four million low-income Californians, and an extension of the COVID-19 eviction moratorium coupled with expediting distribution of $2.6 billion in federal rental assistance for low-income tenants.

Yesterday, the Governor previewed his Equitable Recovery for California’s Businesses and Jobs plan, the business and workforce recovery elements of his 2021-22 State Budget with more than $4.5 billion in investments. Elements of the plan include:

• $575 million more for the State’s Small Business COVID-19 Relief Grant Program, bringing the total grant funding to $1.075 billion;
• The California Jobs Initiative, a $777.5 million proposal that includes tax credits, seed funding, small business loan guarantees and sales tax exclusions;
• $353 million in workforce development funding to support California’s workers as they adapt to changes in the economy brought about by COVID-19;
• $70.6 million for fee waivers to individuals and businesses most impacted by the pandemic – including barbers, cosmetologists, manicurists, bars and restaurants;
• And more.

More details on these announcements can be found here:

• Golden State Stimulus announcement
• Equitable Recovery for California’s Businesses and Jobs announcement