Analyst predicts $68 billion deficit in California: 'A serious budget ...

Dec 8, 2023  · California faces a projected $68 billion budget deficit next year that will require spending cuts and reserve funds to close, state finance officials said on Thursday. The new …


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Analyst Predicts $68 Billion Deficit In California: 'A Serious Budget ...

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Dec 8, 2023  · California faces a projected $68 billion budget deficit next year that will require spending cuts and reserve funds to close, state finance officials said on Thursday. The new …

yahoo.com

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Analysts Predict $68 Billion Deficit In California Budget Next Year

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Dec 8, 2023  · With tax revenues in a free fall comparable to the Great Recession and the dot-com bust, California faces a projected $68 billion budget deficit next year that will require spending …

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California Budget Rollercoaster: Analyst Predicts $68 Billion Deficit

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Dec 7, 2023  · California's Legislative Analyst's Office projects a $68 billion budget deficit for 2024-25 and suggests using reserves and cutting spending. ... California faces a projected $68 …

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California Budget Rollercoaster: Analyst Predicts $68 Billion Deficit

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California’s Legislative Analyst’s Office projects a 2024-25 budget deficit twice as large as 2023-24. ... California faces a projected $68 billion budget deficit next year that will require ...

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'A Serious Budget Problem': Analyst Predicts California Faces $68 ...

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Dec 11, 2023  · WITH TAX REVENUES in a free fall comparable to the Great Recession and the dot-com bust, California faces a projected $68 billion budget deficit next year that will require …

localnewsmatters.org

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California Budget Rollercoaster: Analyst Predicts $68 Billion Deficit

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Dec 8, 2023  · California’s Legislative Analyst’s Office projects a 2024-25 budget deficit twice as large as 2023-24. It says the state could dip into reserves and cut some one-time spending. …

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California Budget Rollercoaster: Analyst Predicts $68 Billion Deficit

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Dec 10, 2023  · Overall tax revenues are projected to be $58 billion below assumptions in the multi-year budget window. Though the Legislative Analyst’s Office estimates that tax revenues …

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California Faces Record $68 Billion Budget Deficit, Nonpartisan ...

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Dec 7, 2023  · When combined with the economic slowdown California has been facing since last year, it leads to a predicted deficit of $68 billion, Legislative Analyst Gabriel Petek announced …

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California Faces Record $68 Billion Budget Deficit, Analyst Says

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Dec 8, 2023  · The nonpartisan Legislative Analyst Office said tax collections were off by $26 billion, a major driver of the deficit. When combined with the economic slowdown California …

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Nonpartisan Legislative Analyst: California Faces Record $68 Billion ...

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Dec 7, 2023  · When combined with the economic slowdown California has been facing since last year, it leads to a predicted deficit of $68 billion, Legislative Analyst Gabriel Petek announced …

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California Faces Record $68 Billion Budget Deficit, Nonpartisan ...

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Dec 8, 2023  · SACRAMENTO, Calif. (AP) — California is facing a record $68 billion budget deficit, state officials announced Thursday, forcing hard choices for Democratic Gov. Gavin Newsom …

thehill.com

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The 2024-25 Budget: California's Fiscal Outlook

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Dec 7, 2023  · California Faces a $68 Billion Deficit. Largely as a result of a severe revenue decline in 2022‑23, the state faces a serious budget deficit. Specifically, under the state’s …

ca.gov

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California Has A $68B Budget Hole To Deal With, Legislative Analyst …

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Dec 8, 2023  · The outlook means California could also be facing deep budget cuts by next summer, when the state's updated spending plan is due.The $68 billion figure would make it …

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California Faces $68 Billion Budget Deficit, Analysis Says - NPR

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Dec 8, 2023  · California faces record $68 billion budget deficit, analyst says. Legislative Analyst Gabriel Petek, left, discusses Gov. Gavin Newsom's proposed 2020-21 revised state budget …

npr.org

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California Faces Record $68 Billion Budget Deficit, Nonpartisan ...

1 week from now

Dec 8, 2023  · The nonpartisan Legislative Analyst Office said tax collections were off by $26 billion, a major driver of the deficit. When combined with the economic slowdown California …

apnews.com

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California Faces Record $68 Billion Budget Deficit, Nonpartisan ...

1 week from now

Dec 7, 2023  · California is facing a $68 billion budget deficit. The nonpartisan Legislative Analyst’s Office said Thursday that most of the deficit comes from lower than expected tax revenues this …

nbcbayarea.com

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California Budget Deficit Balloons To Record $68 Billion | Fortune

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Dec 8, 2023  · BY Adam Beam and The Associated Press. December 8, 2023, 2:17 AM PST. Gavin Newsom's math was a bit off. Mario Tama/Getty Images. California is facing a record …

fortune.com

FAQs about Analyst predicts $68 billion deficit in California: 'A serious budget ... Coupon?

Is California facing a $68 billion budget deficit?

Lea este artículo en español. With tax revenues in a free fall comparable to the Great Recession and the dot-com bust, California faces a projected $68 billion budget deficit next year that will require spending cuts and reserve funds to close, state finance officials said today. ...

How big is California's deficit?

When combined with the economic slowdown California has been facing since last year, it leads to a predicted deficit of $68 billion, Legislative Analyst Gabriel Petek announced Thursday. That is the biggest deficit by dollars in state history, but previous deficits have been larger as a percentage of state spending. ...

Is California a serious budget problem?

“I go with the word ‘serious.’ A serious budget problem,” Petek said during a briefing with journalists. “I would stop short of calling it a crisis.” California’s Legislative Analyst’s Office projects a 2024-25 budget deficit twice as large as 2023-24. It says the state could dip into reserves and cut some one-time spending. ...

How much will the state budget deficit be in 2022-23?

Largely as a result of a severe revenue decline in 2022-23, the state faces a serious budget deficit. Specifically, under the state’s current law and policy, we estimate the Legislature will need to solve a budget problem of $68 billion in the upcoming budget process. Unprecedented Prior-Year Revenue Shortfall Creates Unique Challenges. ...

Will California face deep budget cuts by next summer?

The outlook means California could also be facing deep budget cuts by next summer, when the state's updated spending plan is due. The $68 billion figure would make it the largest deficit in the state's history by dollar amount,but ranks among deficits from the early 2000's based on the percentage of the state's total state budget. ...

Could California cut the deficit by recalculating Proposition 98?

Petek also suggested that California could cut the deficit by nearly $17 billion over the next three years by recalculating its constitutionally-mandated funding obligation to schools and community colleges, known as Proposition 98, based on the lower revenues. ...

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