SACRAMENTO, Calif. (KERO) — Gov. Gavin Newsom is releasing his state budget plan for the next fiscal year.
California's budget plan includes $15 billion in one-time windfall as wealthier residents avoid the effects of the pandemic.
His $227 billion plan, released Friday, also includes $1 billion for “wildfire and forest resiliency.”
Since California’s progressive tax structure relies mostly on wealthy earners, the pandemic has led to a strange contrast in the nation’s most populous state: Many people who earn more than $60,000 per year have been able to keep their jobs because they can work from home.
The state Legislative Analyst had predicted the windfall would be around $26 billion.