California Gov. Gavin Newsom unveiled a revised budget plan of just over $300 billion for the 2023 fiscal year, the highest in state history and fueled by surging tax revenues.
Gov. Gavin Newsom delivers his annual State of the State address in Sacramento, Calif., Tuesday, March 8, 2022.
Newsom unveiled a revised budget plan of just over $300 billion for the next fiscal year, the highest in state history and fueled by surging tax revenues. The state has collected $55 billion more in taxes than officials expected in January, leaving it with an estimated $97.5 billion surplus. He’s proposed giving $400 checks to registered car owners in the state, with up to two checks per person. That would cost the state about $11.5 billion, he said. Though the money would only go to car owners, Newsom said it should be considered “inflation refund and relief."
Democratic lawmakers, though, have a different idea on how to provide relief. They want to give $200 checks only to those below a certain income level.
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