No, California’s Budget Surplus Isn’t Due To Progressive Tax Policies

California Governor Gavin Newsom announced on Monday that the Golden State has $75.5 billion in excess funds, something he believes is due to a “significant windfall of tax revenues.” According to The Daily Wire, Newsom plans to provide Californians with a tax rebate.

Of that money, $5.2 billion will be used to cover back-rent and rent for months in the future. Another $2 billion will be used to pay overdue water and electric bills, the governor said in a tweet.