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Newsom Announces Small Business Relief Program

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The governor wants to hand out $4 billion in grants to small business to help them recover from the pandemic. Amy Johnson reports.

Video Transcript

- Governor Gavin Newsom has announced a small business relief program as part of his $100 billion California comeback plan.

- It's never been stated or said by any governor in American history, let alone California history. A $76 billion operating surplus in the state of California. That doesn't even include the close to $27 billion that we'll be receiving from the federal government. All told, a $100 plus billion opportunity to reimagine, reinvigorate this state's economy and get people back on their feet, particularly those that have been disproportionately impacted by this pandemic.

- In virtual remarks to business and civic leaders today, Governor Newsom proposed $4 billion in grants for small businesses. He said another $100 million would go toward the state's existing payroll tax credit. Now, that would be used to give $1,000 per employee to small businesses that retained or hire new workers during the pandemic governor. There is a lot more to the plan, which the governor said he would be revealing tomorrow.