California set to record $ 19 billion surplus despite COVID-19 lockdowns

California set to record $ 19 billion surplus despite COVID-19 lockdowns

Angela Marsden, owner of Pineapple Hill Grill & Saloon, accuses Newsom of causing ‘humanitarian crisis’

By the end of 2020, the COVID-19 pandemic gutted an estimated 1.6 million jobs in California and reduced the value of commercial properties in more more than 30%. Still, California managed to raise $ 10.5 billion more in taxes than expected, putting the state on track for a $ 19 billion surplus to spend by the end of the fiscal year on July 1.

It’s so much money that, for only the second time, the state is expected to trigger state law requiring the government to send refunds to taxpayers.

Feature: California Governor Gavin Newsom speaks at a news conference at the California State University of Los Angeles campus in Los Angeles. (AP)

It put states like California with a tax …

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