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Bookmark or Share- What contributed to California's record $68 billion budget deficit?By Brady Halbleib, ADAM BEAM Associated Press. Updated on: December 7, 2023 / 6:02 PM PST / CBS/AP. California is facing a record $68 billion budget deficit, state officials announced Thursday,...
- How California's $98 billion surplus became a $31-plus billion deficit ...The state Capitol on June 24, 2022. Photo by Miguel Gutierrez Jr., CalMatters. In summary. California Gov. Gavin Newsom boasted of a $97.5 billion budget surplus in 2022, but a year later, it morphed into a $31-plus billion deficit. What happened?
- The 2024-25 Budget: California's Fiscal OutlookCalifornia Faces a Serious 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 current law and policy, we estimate the Legislature will need to solve a budget problem of $68 billion in the coming budget process.
- California budget deficit balloons to $73 billion- CalMattersIn summary. The Legislative Analyst’s Office projects the 2024-25 shortfall at $73 billion, putting more pressure on legislators and the governor to find savings. The biggest challenge facing lawmakers and Gov. Gavin Newsom is the state budget deficit — and it just got bigger.
- California has an enormous budget deficit. Newsom and lawmakers say ...March 21, 2024 3 AM PT. With a budget deficit of at least $38 billion hanging over their heads, Gov. Gavin Newsom and Democratic leaders of the state Senate and Assembly announced an...
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