Governor Gavin Newsom, Senate President pro Tempore Toni G. Atkins and Assembly Speaker Anthony Rendon announced on Feb. 17th that they have reached an agreement on a package of immediate actions that will speed needed relief to individuals, families and businesses suffering the most significant economic hardship from the COVID-19 Recession.
For small businesses, the agreement reflects a four-fold increase – from $500 million to more than $2 billion – for grants up to $25,000 for small businesses impacted by the pandemic.
This is good news for those who may not have qualified for the Federal stimulus check, and this package also includes support for those attending community college.
Two years of fee relief from the ABC.
Legislature and the Governor have reached an agreement on a $9.6 billion early budget action aimed primarily at helping low-wage Californians and small businesses. Here is what the funding looks like:
- $400 million in federal funding for $525-per-child stipends and state-backed daycares and preschools
- $100 million in emergency financial aid for community college students
- $50 million in grants for cultural institutions like museums and arts spaces
- $35 million for food and diaper access
- $24 million for quarantine housing for farmworkers
- $18 million for quarantine housing for farmworkers
- $2.1 billion in additional funding for the state’s COVID relief small business and non-profit grant program.
- $2 billion in tax cuts—focused on small businesses—over the next several years by exempting the first $150,000 of expenses paid by federal Paycheck Protection Program (PPP) and federal Economic Injury Disaster Loan funds.
Read the press release for more relief information : Governor Newsom, Legislative Leaders Announce Immediate Action Agreement for Relief to Californians Experiencing Pandemic Hardship | California Governor