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CA First State to Take COVID-19 Loan from Feds

Editor-at-Large
The US federal government has offered loans to states to help them through the COVID-19 crisis and the state of California is now the first state to access those funds.
California borrowed the first tranche of funds this week when it pulled down $348 million to help cover unexpectedly high unemployment benefit payments to more than 3.7 million displaced workers, and the state could access up to $10 billion of loans through July. The state began the year with over $3.1 billion in its unemployment insurance trust fund but has already distributed more than $1.2 billion to unemployed workers.
But other states are also preparing to access federal loans after Illinois was approved for up to $12.6 billion and Connecticut was approved for up to $1.1 billion in loans. ....

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Governor Newsom proposes 2021-22 State Budget | Orange County Breeze

Governor Gavin Newsom submitted his 2021-22 State Budget proposal to the Legislature – a $227.2 billion fiscal blueprint that provides funding for immediate COVID-19 response and relief efforts where Californians need it most while making investments for an equitable, inclusive and broad-based economic recovery.
With the end of the COVID-19 pandemic in sight, the Governor’s Budget prioritizes key actions that will urgently help the California families and businesses impacted most. It proposes $372 million to speed up administration of vaccines across all of California’s 58 counties, bolstering the state’s all-hands-on-deck approach to swift and safe vaccine distribution. It also includes a $14 billion investment in our economic recovery and the Californians who most need relief – those who have lost their jobs or small businesses, or are facing eviction – advancing direct cash supports of $600 to millions of Californians through the Golden State Stimulus, extending ....

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