Smaller State Budget Amid COVID-19 Reflects Rethinking of Government
California's new 2020-2021 Fiscal Year state budget was crafted as the state's economic fortunes virtually reversed themselves when the COVID-19 pandemic took hold this spring. But, as e.Republic officials said at a recent Techwire Industry Briefing, the budget still offers opportunity to the tech and innovation sectors, and reflects a rethinking on how government could be transformed.
The COVID-19 pandemic continues to hit California hard, but even a dramatic reversal in the state’s economic fortunes shouldn’t halt all tech and innovation work.
The state has managed to avoid “widespread” cuts to public services and education by leaning on reserve funds, borrowing, limiting corporate tax revenue and delaying future payments to schools,