California COVID Recovery: Gov. Newsom Budget Targets Post-Pandemic Economic Revival

Union City CA

08 January, 2021

3:50 PM

Description

CBS San Francisco January 08, 2021 SACRAMENTO (CBS SF) — Gov. Gavin Newsom is expected to unveil his proposed budget Friday for the 2021-2022 fiscal year, with an estimated $4.5 billion earmarked to help the state's economy recover once the COVID-19 pandemic fades. Newsom said this week that he will propose allocating $575 million for grants of up to $25,000 for the state's small businesses that have been negatively affected by the pandemic. The grant funding would be allocated in addition to the $500 million the state previously allocated for small businesses. About $25 million in grants would also be reserved for small cultural institutions like museums and art galleries. Read more at CBS San Francisco