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The reserves in the budget include a $10.9 billion rainy day fund, a $1.5 billion public school rainy day fund and a $4.5 billion Newsom's 2025-2026 budget released, highlights disaster relief ...
California Gov. Gavin Newsom outlines his proposed 2025-2026 $322 billion state budget during a news conference at California State University, Stanislaus in Turlock, Calif., Monday, Jan. 6,2025.
The deal calls for an ongoing reduction of $110 million for the program starting in 2025-26. Thousands of California students from middle class ... The governor’s revised budget in May had not ...
The 2025–2026 session is the current session of the California State Legislature, composed of 40 members of the State Senate and 80 members of the State Assembly.The session first convened in Sacramento, California, on December 2, 2024, and will end on November 30, 2026, concurrent with the final two years of governor Gavin Newsom's second term.
As for the LAO, the group identified several one-time or temporary spending cuts that could be made to address the budget shortfall from fiscal year 2023-24 through 2025-26.
The result is nearly half of the state’s income tax collections comes from only 1% of the population. That has led to unpredictable, large swings in revenue in California’s budget. Republican state Sen. Roger Niello, who sits on the budget committee, said the governor failed to provide a plan to help address future budget deficits.
Newsom's plan seeks to solve the budget deficit for the next two budget years, including additional cuts, reductions and delays to solve an estimated $28.4-billion deficit in 2025-26.
California's budget difficulties were compounded last year when the state and federal government delayed the deadline to file 2022 income tax returns from April to November due to winter storms ...