Gov. Newsom's budget plan shrinks deficit to $37.9 billion, solves ...

Jan 10, 2024 · A year ago, California saw an unprecedented $97.5 billion budget surplus flip into a $22.5 billion deficit, a figure that swelled to $31.5 billion by May when the governor released …

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Gov. Newsom's Budget Plan Shrinks Deficit To $37.9 Billion, Solves ...

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California Governor Wants Reserves And Cuts To Fix Nearly $38B …

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Jan 10, 2024 · Newsom wants to spend $126.8 billion on public schools — about $2.4 billion less than last year. But the cut could have been far worse. A voter-approved law guarantees the …

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Newsom Proposes Cuts To Balance $38B State Budget Deficit

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Jan 11, 2024 · Gov. Gavin Newsom released a new budget Wednesday that aims to close a $38 billion deficit that proposes to cut $2.9 billion in climate change spending, including $40 million …

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California Governor Wants Reserves And Cuts To Fix Nearly $38B …

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Jan 10, 2024 · California Gov. Gavin Newsom announced $291 billion state spending plan Wednesday with an estimated $37.9 billion deficit. ... Newsom proposed to cut spending by …

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California Gov. Gavin Newsom’s Proposed Budget – NBC Los …

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Jan 10, 2024 · Newsom proposed to delay, but not cancel, $5.1 billion in spending for a variety of programs including facilities for preschool and public transit. “A real risk of not developing a …

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Newsom Seeks To Close $37.9 Billion Deficit By Cutting Spending …

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Gov. Gavin Newsom announced on Wednesday that California had a $37.9 billion budget deficit and asked state lawmakers to cover the shortfall by trimming spen...

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Newsom Announces Bigger Deficit In Downsized Budget Proposal

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May 10, 2024 · Newsom’s revised proposal seeks to close the spending gap through a series of cuts, including $15.2 billion in spending reductions and $14.8 billion by pausing planned …

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How Newsom's $291 Billion Spending Plan Aims To Tackle ... - KQED

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Jan 10, 2024 · California Gov. Gavin Newsom unveiled his plan on Wednesday to close an estimated $37.9 billion budget shortfall by drawing down on state reserves and cutting some …

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How Newsom Plans To Fix California's Projected $37.9-billion

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Jan 10, 2024 · Newsom proposed cutting the state's multiyear climate budget by 11% from the $54 billion approved in 2022, including reductions to clean-transportation programs and others …

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California Governor Wants Reserves And Cuts To Fix Nearly $38B …

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Jan 9, 2024 · But Newsom said the deficit is actually $37.9 billion — a shortfall that, while still steep, is much easier to manage for a state with revenues expected to exceed $291 billion.

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California Democrats, Gavin Newsom Reach Budget Deal To Close …

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Jun 22, 2024 · 336. California Democratic lawmakers and Gov. Gavin Newsom on Saturday announced a budget deal to close a roughly $47 billion shortfall following weeks of …

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Newsom, Democrats Use Cuts, Reserves And ‘budget Emergency’ …

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Jun 22, 2024 · Gov. Newsom signs budget to close California’s $46.8-billion budget deficit June 29, 2024 Newsom’s budget plan saves vital programs for immigrants, but kids and hungry …

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Gov. Gavin Newsom Proposes Painful Cuts To Close California’s …

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May 10, 2024 · California has a budget deficit of $27.6 billion, Gov. Gavin Newsom announced Friday — a gap so wide that he’s proposing eliminating 10,000 vacant state jobs and cutting …

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How Newsom Plans To Offset California's $45-billion Deficit - Los ...

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May 11, 2024 · The deficit number Newsom presented Friday subtracts the $17.3 billion in cuts agreed to earlier from the $37.9-billion deficit estimate from January. Revenues have fallen …

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California Democrats Approve Budget Closing Spending Deficit ...

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Jun 26, 2024 · 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 …

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How Gov. Newsom Plans To Cover California’s Ballooning Budget …

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May 12, 2023 · Newsom proposes to close the deficit by shifting an additional $3.3 billion in existing commitments out of the general fund, including paying for $1.1 billion in climate …

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FAQs about Gov. Newsom's budget plan shrinks deficit to $37.9 billion, solves ... Coupon?

How much money does Newsom need to close the state deficit?

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 reserves for the upcoming fiscal year. ...

What is Newsom's budget deficit?

Newsom said the state’s budget deficit has grown by $7 billion. In January, Newsom said the deficit was nearly $38 billion. However, in March Newsom and lawmakers agreed on some actions to reduce that deficit by $17.3 billion. Now, Newsom says the remaining deficit is $27.6 billion (AP Photo/Rich Pedroncelli) ...

How did Newsom and lawmakers balance state budget deficit?

Gov. Gavin Newsom and lawmakers have struck a deal to offset the state budget deficit. (Rich Pedroncelli / Associated Press) Gov. Gavin Newsom and Democratic lawmakers struck a deal Saturday to make $16 billion in cuts, declare a statewide fiscal emergency and pull money from the state’s rainy-day reserves to balance a $46.8-billion budget deficit. ...

Is Newsom using a 'gimmick' to Lower California's budget deficit?

Newsom is referring to the shortfall as $27.6 billion in 2024-25, but California is making cuts and reductions to solve a total budget deficit of $44.9 billion this year. Newsom called it a ‘gimmick.’ Now he’s using the trick to lower California’s massive deficit ...

Why did Newsom have a budget shortfall in 2022-23?

In December, the nonpartisan Legislative Analyst’s Office pegged the budget shortfall at $68 billion, as income tax collections fell 25% in the 2022–23 fiscal year. Newsom said his administration’s smaller deficit projection was largely due to differing estimates of tax revenue in the coming year. ...

Will Newsom solve the budget deficit in 2025-26?

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. Roger Niello (R-Fair Oaks) called out the difference between Newsom’s deficit estimates and much higher models from the Legislative Analyst’s Office. ...