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Newsom's plan to close the deficit relies on $17.3 billion in savings from budget cuts he and lawmakers agreed to in April and using $4.2 billion from the state's rainy day fund and budget ...
California lawmakers approved a budget on Wednesday that slashes spending and temporarily raises taxes on some businesses to close an estimated $46.8 billion budget deficit. It's the second year ...
California Democratic lawmakers and Gov. Gavin Newsom on Saturday announced a budget deal to close a roughly $47 billion shortfall following weeks of disagreement over spending priorities.
Newsom and lawmakers have already agreed to about $17 billion in reductions and deferrals to reduce the deficit. Plus, Newsom has said he wants to take $13 billion from the state's various savings accounts to help balance the budget. But these won't close the gap, and California appears headed toward more deficits in the future.
The budget will provide spending for the 2024-25 fiscal year, which will begin Monday. Gov. Gavin Newsom signs California budget to close major deficit and provide spending for year Skip to main ...
Gov. Gavin Newsom and Democrats in the California Legislature reached a deal to solve the budget deficit for the 2024-25 fiscal year. Newsom, lawmakers use cuts, reserves and 'fiscal emergency ...
California’s Legislature on Wednesday night approved most of the bills that make up the $298 billion budget agreement with Gov. Gavin Newsom to close a roughly $47 billion deficit.
The Legislative Analyst’s Office last week threw yet another wrench into Gov. Gavin Newsom’s push for a rosier fiscal picture when it updated its projected budget deficit to $73 billion, based ...