“This is a jumpstart for our local economies, and it’s how we’ll bring California roaring back,” Newsom said in announcing the new proposals. The plan would boost the tax rebates program by $8.1 billion to nearly $12 billion, helping two-thirds of Californians. The plan would add an additional $1.5 billion for a total of $4 billion in direct grants to California’s small businesses. The state would also boost the State Small Business Credit Initiative, which was created in 2010, to strengthen state programs that support the financing of small businesses. Student aidThe governor proposes providing $2 billion to create a California Child Savings Accounts program for 3.8 million children from low-income families.

Source: Los Angeles Times May 27, 2021 12:02 UTC