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Photo: Justin Sullivan via Getty Images

California secured a more than $75 billion budget surplus after boosts from a thriving stock market and tax revenues, Gov. Gavin Newsom (D) said Monday.

Why it matters: Last year, the governor's office projected a budget deficit of up to $54 billion due to the fallout from the COVID-19 pandemic — about a quarter of the entire budget. On Monday, Newsom laid out his plan to use the surprise surplus to fund what he called the biggest economic recovery package in state history.

Details: Newsom's $100 billion proposal would provide $12 billion more in direct payments to residents: $600 for most people along with an additional $500 for families with dependents.

  • The money would go to families earning less than $75,000 annually.
  • The package would also assist renters, covering 100% of their past-due rent.

What to watch: Newsom will announce the rest of his proposal in an address on Friday.

What he's saying: "This is just the first of many announcements this week across the spectrum that amplify the narrative of this state truly roaring back," Newsom said at an address.

Go deeper

Updated Aug 11, 2021 - Axios Twin Cities

Minnesota latest state to mandate vaccines or tests for state workers

Minnesota Gov. Tim Walz (D). Photo: Scott Olson via Getty Images

Minnesota on Wednesday joined a growing list of U.S. states mandating COVID-19 vaccines or testing for state employees in an effort to fight the spread of the highly transmissible Delta variant.

What they're saying: "Vaccination is the best way to keep employees and the people we serve safe and ensure the Delta variant does not derail our economic recovery," Gov. Tim Walz (D) said in a statement announcing the mandate.

Updated 3 hours ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: Coronavirus variant surveillance varies widely by state — Omicron cases confirmed in 5 U.S. states America probably won't lead the effort to understand Omicron.
  2. Vaccines: Omicron adds urgency to vaccinating world — Omicron fuels the case for COVID boosters — Moderna loses patent battles tied to COVID vaccine.
  3. Politics: Nevada to impose insurance surcharge on unvaccinated state workers — New Jersey GOP lawmakers defy statehouse COVID policy — Oklahoma sues Biden administration over Pentagon vaccine mandate — Omicron travel bans are sign of what's to come.
  4. World: WHO: Delta health measures help fight Omicron — COVID cases surge in South Africa in sign Omicron wave is coming — Germany approves new restrictions for unvaccinated people.
  5. Variant tracker: Where different strains are spreading.

Prosecutors charge parents of Michigan school shooting suspect

Photo: Scott Olson/Getty Images

The parents of a 15-year-old accused of killing four students and wounding seven other people at a Michigan high school have been charged with involuntary manslaughter, according to court documents.

Driving the news: James and Jennifer Crumbley were each charged with four counts of involuntary manslaughter.

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