WASHINGTON (Pakistan Point News / Sputnik - 26th June, 2020) California Governor Gavin Newsom declared a budget emergency on Thursday to access budget reserves in order to ensure fund are available for the response to the novel coronavirus pandemic, the Office of the Governor said in a statement.
"Governor Gavin Newsom today issued a proclamation of a budget emergency to make additional resources available to fund the state's ongoing emergency response to the COVID-19 pandemic, ensuring the availability of funding for personal protective equipment, medical equipment and other expenditures as necessary to support a potential hospital surge and provide necessary services to vulnerable populations," the statement said.
Newsom intends to draw down $7.8 billion from the $16.1-billion Budget Stabilization Account, according to news reports.
The California governor is citing the global economic crisis and a $54.3 billion state budget deficit as a requisite for tapping into the reserve fund.
