California lawmakers to vote on $308 billion budget

California lawmakers are about to vote on a plan to spend close to $308 billion in taxpayer money over the course of the next year.

Gov. has drafted a new operating budget for the world's fifth-largest economy. Inflation relief is a goal of Gavin Newsom and others, and they are about to receive $17 billion in new spending.

The Labor Department reported earlier in June that it was at a new four-decade high in May, affecting the prices for most things, like gasoline and groceries.

More than 20 million residents in California will receive cash payments of between $200 and $1,050 to help pay for gas costs.

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The state sales tax on diesel fuel will be suspended, and businesses will get $2.3 billion. The package includes additional funding to help people pay their rent and utility bills.

It commits to making California the first state to provide free health care for all low-income adults regardless of their immigration status.

In a joint statement, Newsom, Senate President pro Tempore Toni Atkins and Assembly Speaker Anthony Rendon said it addressed the state's most pressing needs.

The budget invests in California s values in the face of growing economic uncertainty, while filling the state's budget reserves and building in triggers for future state spending to ensure budget stability for years to come, the trio said.