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Newsom Plans $4B For Economic Recovery

Governor Gavin Newsom is proposing a $4 billion spending plan for California's economic recovery.

Newsom says the spending plan will create jobs and help small businesses recover from the COVID-19 crisis. Small businesses would get $575 million. The money would pay for grants of up to $25,000. $25 million would be allocated to small museums and art galleries that have been forced to close amid the pandemic.

The governor and the state Legislature have already given $500 million to the program, so Tuesday's proposal would make more than $1 billion available. Roughly $1.5 billion would help people buy electric cars and build the charging stations necessary for drivers to use them. Newsom also wants to give $430 million worth of tax credits to businesses that stay in California and create full-time jobs.

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