California Governor Gavin Newsom (D) is proposing to fight inflation by spending an additional $18.1 billion from the state’s budget surplus, adding money to the economy at a time when there are “too many dollars chasing too few goods.”
Thursday, Newsom’s office released several spending proposals to help Californians with high prices. Many of these are simply redistributive policies that spread money among key Democratic political constituencies, such as nursing staff:As the entire country faces increasing costs due to inflation, Governor Newsom proposed getting $400 checks to every eligible registered vehicle owner, capped at two checks per individual.
In addition, Newsom announced that California’s statewide minimum wage of $15 per hour will rise automatically to $15.50 after an inflationThe state’s budget surplus was recently to be $68 billion, thanks in part to $26 billion in funding from the federal government for the COVID-19 pandemic. Despite fears of a shortfall in 2020, the state — like others — has a windfall.the state’s gas tax to continue to increase, and it is scheduled to rise 3 cents in July.on Sirius XM Patriot on Sunday evenings from 7 p.m. to 10 p.m. ET . He is the author of the recent e-book,
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