On June 28, 2021, California lawmakers reached a budget agreement for the 2021-2022 fiscal year. The $262.6 billion budget proposal includes investments in education, small businesses, and infrastructure, while also addressing ongoing pandemic-related challenges.
One of the key highlights of this budget agreement is the allocation of $2 billion towards the reopening of schools. This funding will help schools recover from the pandemic and provide additional resources to support students` academic and mental health needs.
In addition to education, small businesses will also receive support through grants and tax credits. The budget agreement includes $1.5 billion in grants for small businesses that have been negatively impacted by the pandemic. This funding aims to help small businesses recover and provide assistance to those who have struggled throughout the pandemic.
The budget also includes investments in infrastructure, with $1 billion allocated towards the maintenance and repair of state parks, as well as funding for transportation and broadband infrastructure.
Furthermore, the budget agreement also addresses challenges related to homelessness and housing affordability. The budget includes $12 billion in funding for homelessness and housing initiatives, with $8.75 billion going towards the creation of new affordable housing.
Overall, this budget agreement reflects California`s commitment to investing in education, small businesses, infrastructure, and social services to support the state`s economic recovery following the pandemic. The agreement also highlights the state`s efforts to address long-standing issues related to homelessness and housing affordability.
