Budget Surplus: Here’s What CA Lawmakers Plan To Do With Extra Money
California lawmakers are expecting the state’s budget surplus to reach up to $20 billion.
State Democratic lawmakers in the assembly Wednesday laid out their financial priorities with more money available than initially expected.
“Our budget situation has drastically changed,” Assm. Phil Ting, D-San Francisco, said.
Budget Chairman Phil Ting says while the assembly is still waiting on a final budget estimate for the year, lawmakers expect the state surplus to be between $15 billion to $20 billion.
That money coupled with $26 billion collected in federal stimulus makes this year a more flexible one for spending.
“We also want to make sure we’re protecting Californians. We have millions of vulnerable Californians living paycheck to paycheck, worried about evictions, homelessness jobs, and covid has just continued to exacerbate them,” Ting said.