SACRAMENTO – The momentum generated by Senate Bill 74 (Borgeas-Caballero), otherwise known as the Keep California Working Act, has successfully pushed Governor Gavin Newsom and legislative leadership to include an additional $2.1 billion in economic relief for small businesses and nonprofits, to achieve the $2.6 billion requested in SB 74.
“In order to expedite relief in the budget process, this funding amount has been included in Senate Bill 87, an early action budget measure,” said Senator Borgeas. “I am pleased to be joining my colleagues as a principal co-author of SB 87. This announcement is a huge victory for supporters of the Keep California Working Act and struggling small businesses and nonprofits in need of economic relief due to the COVID-19 pandemic.”
In December 2020 it was unlikely many businesses and nonprofits would be able to keep their doors open. Senator Andreas Borgeas (R-Fresno) and Senator Anna Caballero (D-Salinas) immediately introduced the Keep California Working Act, which proposed to invest $2.6 billion of California’s unanticipated revenue in one-time grants for small businesses and nonprofits impacted by COVID-19.
“I want to thank Senator Anna Caballero and our colleagues who joined us in co-authoring SB 74,” said Senator Borgeas. “In addition, I’d like to thank the organizations who lent their support to the bill. California’s small businesses and nonprofits need economic relief now. This path toward victory proves that when legislators cross the aisle and work together on our most pressing needs we can get things done.”
Senate Bill 74, with 36 Democrat and 27 Republican sponsors, was a true bipartisan and bicameral small business relief package. Sixty-three out of 120 California legislators, or more than half the Legislature, signed on to the Keep California Working Act. Additionally, more than 80 chambers of commerce, cities, counties, statewide business associations and nonprofit groups lent their support to the bill.
While Governor Gavin Newsom’s additional request of $575 million to California Small Business COVID-19 Relief Grant Program was a step in the right direction, more capital investment was needed to keep California’s job creators afloat.