January 27, 2022

Governor Newsom unveiled his 2022/23 budget proposal. The Toplines: 

$286.4 billion budget with an anticipated $47B surplus. This includes the $2.7B he announced for expanded COVID testing and vaccine. 

He also included $3B over numerous years to address the gaping unemployment insurance fund debt which could bring some relief to employers who would otherwise foot that bill. 

$40 million will go to waive filing fees for new business, and an additional $150 million to continue the small business COVID-19 grant program. 

Review the full proposal here.