On May 13th, Governor Gavin Newsom unveiled another component of his $100 billion California Comeback Plan: making historic investments in small business relief. The plan expands the state’s COVID-19 Small Business Relief Grant program to a total of $4 billion, representing the largest of its kind in the entire country. That’s in addition to the $6.2 billion tax cut for those businesses hit hardest by the pandemic.
“Our small businesses have faced unprecedented challenges over the past year, and we’re stepping up to meet the moment – making historic investments to provide businesses with the support they need and jumpstarting California’s economic recovery,” said Governor Newsom. “That’s why we’re implementing the largest small business relief program in the entire country, expanding the small business grant program to $4 billion and providing $6.2 billion in small business tax relief. This is money in the pockets of business owners to make payroll and cover the bills as we prepare to fully reopen California’s economy on June 15.”
Photo by Ivan Samkov