Sunday night, Newsom and several state leaders announced they reached an agreement on the 2022-2023 state budget.
It includes a $17 billion inflation relief package, which would offer tax refunds to millions of working Californians.
It would also provide $350 to those making less than $75,000 per year.
Those who make more than that would also receive a smaller direct payment.
In addition, the package would include a suspension of the state sales tax on diesel, and additional money to help people with rent and utility bills.