Politics & Government
California COVID Recovery: Gov. Newsom Budget Targets Post-Pandemic Economic Revival
The grant funding would be allocated in addition to the $500 million the state previously allocated for small businesses.
January 08, 2021
SACRAMENTO (CBS SF) — Gov. Gavin Newsom is expected to unveil his proposed budget Friday for the 2021-2022 fiscal year, with an estimated $4.5 billion earmarked to help the state’s economy recover once the COVID-19 pandemic fades.
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Newsom said this week that he will propose allocating $575 million for grants of up to $25,000 for the state’s small businesses that have been negatively affected by the pandemic.
The grant funding would be allocated in addition to the $500 million the state previously allocated for small businesses. About $25 million in grants would also be reserved for small cultural institutions like museums and art galleries.
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Read more at CBS San Francisco