SACRAMENTO, Calif. — An $18.1 billion inflation relief package proposed by Gov. Gavin Newsom will put salve on key pain points for Californians most affected by rising gas and grocery prices but also likely will cause prices to tick up just a tad more, leading economists say.
The Newsom package also won’t likely stave off a possible recession, the fear of which tanked the markets on Wednesday, experts said.
Newsom’s plan includes $11.5 billion in tax refunds for vehicle owners, $933 million in retention bonuses for health care workers on the frontlines treating the COVID-19 patients and $750 million to provide free mass transit for a few months in some California cities.
