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May 10, 2024 · SACRAMENTO, Calif. (AP) — 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. This is the second year in a row the nation’s most populous state is facing a multibillion-dollar shortfall.
May 11, 2024 · Newsom’s revised $288-billion budget proposal, announced Friday, projected California’s deficit to be $7 billion more than the shortfall his administration expected in January.
Mar 21, 2024 · Facing a shortfall of at least $38 billion, Gov. Gavin Newsom and legislative leaders said they have agreed to $12 billion to $18 billion in cuts but offered no details.
- taryn.luna@latimes.com
- Staff Writer
May 16, 2024 · The much-revised 2024-25 state budget that Gov. Gavin Newsom released last week contains hundreds of spending reductions and other actions to close what he says is a $44.9 billion deficit. Exactly two years earlier, Newsom boasted as the state enjoyed a $97.5 billion budget surplus, thanks to surging revenues from the post-pandemic economic ...
Apr 24, 2024 · California has a multibillion-dollar budget deficit, but how big and what should be done to close it are up in the air as deadlines approach.
Dec 7, 2023 · The latest deficit figure — calculated by the nonpartisan Legislative Analyst’s Office and released Thursday — far exceeds the $14.3 billion estimate from June.
