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California has a huge budget problem that could force thorny decisions from Democratic leaders who enjoyed a more than $100 billion surplus just three years ago. Democratic Gov. Gavin Newsom on ...
California faced a $26.3 billion budget deficit for the 2009–2010 budget year. [7] While the legislative bodies appeared to address the problem in 2008 with the three-month delayed passage of a budget they in fact only postponed the deficit to 2009 and due to the Great Recession and the 2007–2008 financial crisis the problem became urgent ...
A number of states have a two-year or three year budget (e.g.: Kentucky) while others have a one-year budget (e.g.: Massachusetts). In the table, the fiscal years column lists all of the fiscal years the budget covers and the budget and budget per capita columns show the total for all those years.
California is facing a record $68 billion budget deficit, state officials announced Thursday, forcing hard choices for Democratic Gov. Gavin Newsom in his final term as he works to build his ...
California has a budget deficit of $27.6 billion, Gov. Gavin Newsom announced Friday — a gap so wide that he's proposing cutting 10,000 vacant state jobs and suspending some widely used business ...
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. State Sen ...
News reports and commentators have cited the state's various legislative supermajority requirements as a contributing factor to the state budget crisis. [23] [24] The state has a long history of supermajority requirements with a 1933 state ballot measure mandating a two-thirds supermajority to pass the state budget and California Proposition 13 (1978) mandating another two-thirds supermajority ...
The 2024-25 deficit is more than double what the deficit was last year. California has a $68 billion deficit. Here are 5 ways Gavin Newsom could address the budget