Bay Briefing: Stimulus checks could be on the way to a lot more Californians
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Gov. Gavin Newsom discusses California’s budget surplus during a visit to Oakland.Jessica Christian/The Chronicle
Good morning, Bay Area. It’s Tuesday, May 11, and graduating S.F. high school students could return to the classroom for as little as one day. Here’s what you need to know to start your day.
‘A remarkable turnaround’
California has far more money than it expected and a month to decide how to spend it.
State finance officials project that California will have a $38 billion discretionary surplus in the upcoming fiscal year, more than twice what the Department of Finance estimated in January, reflecting an economy that has recovered far more quickly than expected from the pandemic-induced recession, particularly for the wealthiest Californians.