The regional president made reference to the ambitious budget plan on Tuesday. Photo: Justin Sullivan / Getty Images
Last Tuesday the Governor of California, Gavin Newsom announced an economic rescue package for the state of $ 4, 500 million dollars that includes help for small businesses, in addition to job creation, but the plan must be approved by the state senate.
“ These budget proposals reflect our commitment to an egalitarian recovery that ensures that California continues to be the best place to start and grow a business ”, said the president in a statement when presenting your plan.
Today, CA announced our $ 4.5B economic relief package:
– $ 1B + in immediate relief for small businesses including grants & fee waivers
– Tax credits for new hires & more – Major jobs package including apprenticeships, housing development & more green jobs https://t.co/aDRkYlqnQa
– Gavin Newsom (@GavinNewsom) January 5, 2020
Newsom’s plan calls for a additional aid of $ 575 million dollars to help small businesses to adapt their commercial activities due to the coronavirus, this would be extra to the $ 500 millions that are currently earmarked for the CA Grant Relief program.
The proposal also seeks to allocate $ 765 million dollars for the creation of employment and economic development , and includes $ 430 million tax credit for businesses relocating to or growing in the state , among other tax credit incentives.
For their part, restaurants, bars, barbershops, nail salons that have been forced to close or limit their operations, will have available at least $ 71 millions to waive license fees .
The plan also stipulates $ 25 millions in aid for cultural institutions such as museums and art galleries that have been closed for months.
The governor is expected to make public the budget with the $ 4, 500 million dollars the Friday of this week and that the Senate submits it to a vote a few days after its presentation.
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