SACRAMENTO, Calif. — California Gov. Gavin Newsom on Friday released a $300.6 billion spending plan that would fund tax rebates, abortion care, bonuses for health care workers and more, fueled by a $97.5 billion surplus.
The flush budget largely reflects a continued surge in tax revenue driven by income gains in high-earning households.
The “simply without precedent” surplus is the latest windfall for state coffers, which swelled by tens of billions of dollars in a short two-year period.
