California News

California Lawmakers Propose $100B Stimulus Plan

Paradise Post-


Democrats who control California’s Legislature on Monday proposed a $100 billion economic stimulus plan that relies on what they are calling “future tax vouchers” along with speeding up other spending during the coronavirus pandemic.

The plan would allow state Treasurer Fiona Ma to issue tax vouchers that proponents said could raise billions of dollars, though they said it was too soon to provide a more detailed estimate.

The state would let taxpayers prepay their taxes for a future budget year at a slight, as yet undetermined, discount. Most of those likely to take advantage of the program would be wealthy enough to make it financially worth their while, said Tim Schaefer, deputy treasurer for public finance.

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