- Audrey Detmer
- Communications Director
- (916) 319-2014
SACRAMENTO, CA - Today, Governor Gavin Newsom released his proposal for California's 2022-2023 Budget. Upon the release of the proposal, Assemblymember Timothy S. Grayson (D-Concord) made the following statement:
"The Governor has a unique challenge with this budget: handling an almost $46 billion surplus responsibly, equitably, and in a way that jump-starts California’s long awaited recovery. I’m pleased to see significant proposed investments in housing, education, small businesses, and emergency COVID-19 response and support.
I was particularly glad to see that the Governor proposes restoring the Research & Development tax credit and creating a new tax credit for California companies that develop green energy technologies. These are important investments to keep our state a hub for innovation, growth, and technology.
It is my hope that in the next version of the budget we will see included funding to bolster existing sales and tax exemptions for manufacturing to help support this important industry and its workers.
I’m pleased that the proposed budget includes a robust investment of $20.9B for our Rainy Day Fund. It is critical that we safeguard the state from the volatility of Wall Street by saving sufficient state revenues and securing our financial position during these unpredictable times.
It’s equally critical that we capitalize on this historic surplus by paying down our long-term debts. This proposal takes that step by dedicating $8.4B over three years towards paying down retirement liabilities.
I was also thankful that the proposed budget includes funding to fight organized retail theft, including:
$285M in grants for local law enforcement
$20M to support small businesses hurt by retail theft
$18M for the Attorney General to prosecute those responsible for these crimes
Businesses owners, employees, and shoppers deserve to feel and be safe—and this proposed funding will help ensure safety in our communities.
The Governor continues to make significant investments to address our housing and homelessness crisis, incentivizing smart, climate-conscious development that will allow Californians to live, work, and play without having to suffer through a long commute.
I am particularly excited to see that the Governor dedicated $1.5B for resources to address immediate housing needs, including through the purchase of tiny homes for short- and long-term bridge housing.
Overall, the Governor has provided the Legislature with a thoughtful draft budget and I appreciate his efforts to strike an appropriate balance between necessary one-time investments in our recovery, and longer-term outlays for both rebuilding the state’s economy and the pocketbooks of hardworking families.
I look forward to working with the Governor and my colleagues to craft a final budget that uses taxpayer money wisely and effectively to address California’s challenges and capitalize on our many opportunities ahead."
A summary of the budget proposed by Governor Newsom can be found here.