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Californiaâs 2021â2022 State Budget: Focus on Health Care
California Government Update August 03, 2021
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California’s New Budget Commits the State to Record Health Care Spending
California Governor Gavin Newsom and the state Legislature enacted a $196 billion spending plan for FY2021–22, including authorizing a 29% increase in health care spending over FY2020–21. This new level of spending is in part a response to the COVID-19 pandemic, but much of it will go to pay for Medi-Cal expansion, innovation and reform that was under consideration before the pandemic.
Historic Revenues Allow Record Spending
Lawmakers are able to commit to record spending on health care because of an unprecedented $85 billion budget surplus, which includes higher-than-expected tax revenues and $26 billion in nonrecurring federal COVID-19 relief funding.
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How federal rules make it impossible for people with disabilities to save for future
By Caroline Hart
OAKLAND, Calif. - The most fortunate people to weather the pandemic were those with savings and high paying jobs, for whom working from home provided a safe way to maintain their income, and perhaps even save money.
In fact, many of the highest earners saved more money when the economy was more or less shut down during the depths of the pandemic in 2020. Americans in the top 20% of earners built up their reserves with excess savings last year while the lower 60% of Americans burned through much of their savings, according to a study.
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