Finally, the plan for an equitable economic recovery includes meaningful planning for an equitable economic recovery. CA FWD is encouraged that Governor Newsom is taking advantage of this historic opportunity to invest in our communities, our economy and our future. Investing in California and Californians now is precisely what is necessary to ensure more have the opportunity to prosper and achieve their California Dream.
The revisions align with what California Forward, the California Economic Summit and the California Stewardship Network, along with our partners have recommended, including the need for serious investments in broadband infrastructure to help close the digital divide, inclusive regional economic development, forest resiliency, small business support, and aligning economic resilience with state climate goals.
The inclusion of a Community Economic Resilience Fund, which provides $750 million to support planning and implementation of regional economic strategies, will be a critical tool to center the recovery within regional communities. This speaks to the value of efforts we have helped lead across the state like Regions Rise Together and Assemblymember Rudy Salas’ AB 106. We are also pleased to see a proposed $7 billion investment in broadband infrastructure, which is vital to our economic prosperity and to closing gaps in disadvantaged communities.
The Rainy Day Fund has never been more important to our state. As key proponents of the Rainy Day Fund, which was proven ever more critical during this pandemic induced economic downturn, we are proud to see it continues to deliver the fiscal foundation it was intended for and that it will continue to serve its important purpose.
We will continue to work with the governor and Legislature to ensure this unique opportunity delivers the support, resources, and promise of a better future for all Californians.
Statement on behalf of Micah Weinberg, CEO of CA FWD, cafwd.org
Contact: Jania Palacios