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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. Read more: Newsom called ...
California Gov. Gavin Newsom and leaders of the state Senate and Assembly announced an agreement Thursday to cut $17 billion from the state budget in April, providing the first details of their ...
2008–2012 California budget crisis. Furlough at a California Department of Motor Vehicles office in 2009. The U.S. state of California had a budget crisis in which it faced a shortfall of at least $ 11.2 billion, [1] and projected to top $40 billion over the 2009–2010 fiscal years. [2]
The cuts to state operations would build on a December budget letter Newsom’s Department of Finance sent to all state departments and agencies that enacted a current year budget freeze in ...
California lawmakers will return to Sacramento next month to deal with a looming problem — a $68 billion budget gap that may require an emergency declaration to fix. ... “Given the state faces ...
Gavin Newsom proposed cutting roughly 10,000 unfilled state positions in a revised budget plan he unveiled Friday. The cuts are set to start in the 2025-26 fiscal year and continue after that, the ...
The state budget is highly dependent on income taxes paid by California's highest earners. Revenues are prone to volatility, hinging on capital gains from investments, bonuses to executives and ...
California Gov. Gavin Newsom on Friday unveiled his revised $288 billion budget proposal with a $28 billion deficit that will require tough budget cuts — including eliminating 10,000 now-vacant ...