Newsom proposes budget in excess of $3 trillion to counter inflation

budget to counter inflation
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As global inflation and the war in Europe drive up costs across the country, California Gov, Gavin NewsomIn addition, he proposed a $300.7 billion budget to counter inflation, which will also serve to ensure public safety, address homelessness, transform public education and combat climate change. 

The Governor's California Plan includes an $18.1 billion inflation relief package to put money back in the pockets of Californians and reduce costs for families. 

"With historic investments, we are doubling down on our formula for success and making sure no one is left behind: supporting working families and businesses, addressing climate change, expanding access to health care, making our communities safer and more," Newsom said. 

The governor added that "while gridlock persists in Congress and right-wing zealots turn statehouses across the country into laboratories of hate and oppression," California will work "to grow the economy and implement real, inclusive policy change to create a brighter future for all."

The proposed budget to counter inflation specifies that $18.1 billion in "Inflation Relief" will be made in direct payments to help people pay their utility and rent bills, as well as to reduce costs such as health care and child care.

In addition the budget to counter inflation, provides for a $47.1 billion climate commitment, an increase of $3 billion this year, to address pollution, build climate-resilient water supplies, reduce the risk of catastrophic wildfires, ensure grid reliability, and accelerate clean energy solutions, as well as protect communities from extreme heat.

660 million of the counter-inflation budget will go to ensure public safety with funds to hire new officers and mental health support for law enforcement, as well as support for victims of sex trafficking, crackdown on Internet crimes against children, and the opioid crisis.

Another $14.7 million of the budget to offset inflation will, Newsom said, address homelessness and the mental health crisis in order to get people off the streets and get them the services and care they need, with a particular focus on Californians suffering from mental health and substance use disorders.

On the other hand, $37 billion of the budget to counter inflation, he said, will go to rebuilding California, which will translate into more and better infrastructure including broadband and new housing, as well as an investment of $128.3 billion to transform public education.

On top of that, he said, are billions of dollars to invest in Californians and their pro-life agenda, including funding for:

  • Improve education systems with universal preschool, after-school activities and school feeding; and expanded and affordable child care.
  • Accessible and affordable health care through Medi-Cal expansion and subsidies, increased access to reproductive health care, home visiting and health support for African American infants, youth mental health and suicide prevention.
  • Address pollution, particularly in disadvantaged communities that bear the brunt of its impacts.
  • Violence prevention programs, including gun buybacks and the removal of fentanyl and other opioids from the streets.

With Gross Domestic Product (GDP) at 7.8 percent, Governor Newsom's Blueprint for the budget to counter inflation includes a $97.5 billion surplus. 

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