FRESNO, Calif. (KSEE/KGPE) – California’s surplus in its proposed budget announced Friday is $97.5 billion, described by Gov. Gavin Newsom as “without precedent.”

“No other state in American history has ever had a surplus as large as this.”

There have been suggestions that taxes are too high in California, but Newsom says the surplus is a sign of success and economic growth.

“I’m proud of California’s progressive tax structure,” he says, but adds that he believes there should be reform to the state’s entire tax system.

While there have already been proposals for how the budget surplus could be spent, what if the $97.5 billion was simply shared among every resident of the state of California?

In 2020, the U.S. Census Bureau calculated that California’s population was 39,538,223. If you do some math and divide the $97.5 billion surplus between every resident of California, that comes to $2484.84 each.

While sharing the budget surplus in that way is unlikely to happen, some say that it is too high. The Republican National Committee described the $97.5 billion surplus as a “slap in the face.”

“California Democrats have refused to offer any kind of immediate relief on some of the highest taxes in the nation, as well as the continuously rising cost of gasoline, and now Governor Newsom is bragging about how much extra money the state has taken off the backs of hardworking Californians.”

Republican National Committee

Compared to previous years, the surplus proposed budget last year was not as high. In May 2021, the amount of money considered surplus was $76 billion. In May 2020, there was no surplus – instead a deficit of $54.3 billion.

The current proposed budget does include $11.5 billion in tax refunds to help address inflation in the form of the previously announced $400 checks to every registered vehicle owner.