California Budget News, Newsom and legislative leaders say they have
- California Budget News, Newsom and legislative leaders say they have a deal on the California budget. 3 California no longer faces a budget deficit, Gov. Lawmakers struck a deal to close a state deficit estimated at $47 billion. President Donald Newsom’s $349B budget projects a $2. Gavin Newsom are scrambling to lessen California's budget deficit, which Newsom estimated at $37. After weeks of talks, Gov. Gavin Newsom’s office said the state faces a $2. The state's fiscal year begins July 1. Newsom and legislative leaders say they have a deal on the state budget. Gavin Newsom said Monday, two months after budget officials projected a $2 billion The enacted budget rejects the Governor’s January proposal to defer the previously approved base funding increases of 5 percent for the University of California Your guide to understanding Governor Newsom's 2025-26 California state budget proposal and how the spending plan will impact Californians. Gavin Newsom is seeking to close a $12 billion budget deficit, relying California lawmakers have reportedly struck a budget deal for 2025-26. He asserts the budget now being negotiated won’t hold up because of chaos under Trump, who’s constantly threatening to withhold federal money due California. Gavin Newsom has signed a budget that pares back a number of progressive priorities to close a $12 billion deficit. 9 billion in January. California will face a nearly $18 billion budget deficit in the new fiscal year due to higher than expected spending, despite an economic California Governor Gavin Newsom has unveiled a budget proposal to address a $12 billion deficit, largely caused by uncertainty from President Donald Trump's tariffs and rising costs. Gavin Newsom that raises general fund spending and puts off major cuts to The Budget Center breaks down key areas of the governor's May Revision and highlights how the proposal would impact Californians. Newsom wants to scale down California's health care expansion, shut a prison and redirect cap-and-trade money to help close the budget gap. Gavin Newsom offered an early preview of his January budget proposal, with a promise to deliver more details at the end of the week. California's AI boom could fade as soon as this year, budget experts warn. Gavin Newsom's 2025 California budget calls for a new homeless agency and free diapers for infants. Lawmakers have one major hurdle to overcome when California Governor Gavin Newsom signed a $321 billion budget on Friday that closes a $12 billion deficit by scaling back several progressive priorities, Gov. Gavin Newsom releases his revised $288 billion budget proposal to address a $28 billion deficit on Friday, May 10, 2024. Gavin Newsom has proposed a series of painful budget cuts to close the state's growing deficit. The big question is what will Gov. 8 billion to close the budget hole in the state's Medicaid program. What you need to know: Governor Newsom’s balanced budget proposal for the 2025-26 fiscal year includes increased savings to the state’s reserves while Absent from the latest budget plan was an earlier proposal by the governor to freeze all state employees’ salaries, which Newsom hoped would save California Gov. Gavin Newsom wants to declare a budget emergency and ask California lawmakers to dip into the state's reserves. Budget mavens in the governor’s Department of Finance and the Legislature are now anxiously awaiting revenue totals from this year’s much-delayed income tax On June 9, the Legislature announced an agreement on a budget plan to address the shortfall using a mix of cuts, borrowing, and other strategies, following the . Gavin Newsom and Democratic leaders of the state Senate and Assembly announced The California Legislature has rejected many of the spending cuts Gov. The California Budget & Policy Center is a nonpartisan, research and analysis nonprofit advancing public policies that expand opportunities and promote well The budget proposal, though, preserves an annual $1 billion from the renewed cap-and-invest program for high-speed rail. Lawmakers this year rallied to California Democratic leaders have announced they have agreed on a plan to reduce the state's staggering budget deficit by $17. Gavin Newsom is counting $7 billion drawn from a reserve account as revenue, making California's $20 billion budget deficit seem smaller. The Legislature approved it Friday. As we release publications aimed at addressing the 2026-27 budget situation, we will add them to this index page. Let’s just say it’s not expected to be rosy. Democratic lawmakers and Gov. Gavin Newsom has proposed a $322 billion budget without a deficit. Losing money from the federal government would only exacerbate California’s budget deficit and force lawmakers and Newsom to make more difficult California Governor Gavin Newsom and state lawmakers struck a budget agreement that provides $750 million in tax credits for Hollywood while scaling With weaker revenues than expected, Gov. Newsom and Democratic leaders in the Legislature announce a deal on early action to shrink the state's budget deficit by $17 billion. (AP) — California Gov. Gavin Newsom has signed legislation to provide $2. Newsom's budget estimates a lower deficit than legislative analysts and avoids deep cuts by taking $13 billion from state reserves. The state Legislature on Thursday approved legislation that takes a number of steps to SACRAMENTO, Calif. It points to uncertainty because of This First Look report outlines key pieces of the 2026-27 California budget proposal and the governor’s spending priorities. State finances have fluctuated wildly in recent years. 9 billion budget deficit this year, an amount significantly lower than what legislative budget analysts projected. Hector Amezcua hamezcua@sacbee. Gavin Newsom and the Legislature forgoes or delays many of Newsom’s proposed cuts, but the deficit is only likely to grow. Gavin Newsom’s demand that the SACRAMENTO, Calif. Newsom Democrats in the state Legislature have finalized a budget deal with Gov. As California faces a shortfall in the billions, here's a look at what the budget proposes. Gavin Newsom's costly new proposals and other programs could swallow up The California state budget has been a rollercoaster over the past few years. Gov. Newsom first unveiled a plan in January without a projected shortfall. Spoiler alert: California’s deficit grows, uncertainty looms, and state leaders may have fewer options than before to tackle it. 3 billion. On May 14, California Gov. Gavin Newsom and Democrats in the California Legislature reached a deal to solve the budget deficit for the 2024-25 fiscal year. Explore California's budget details, including finance letters, cost allocation plans, and updates on fiscal accountability and outcomes. Gavin Newsom on Amid ongoing budget negotiations, legislative leaders today released their counter proposal to a recent plan by Gov. Newsom said Friday the state's deficit Gov. Gavin Newsom released his revised California state budget for the 2025-26 fiscal year. California's budgets have been susceptible to the ways wealthy taxpayers derive their income, particularly during periods of economic California leaders reached a tentative agreement Tuesday on the state budget, which hinges on Gov. January budget proposal closes a $37. Newsom’s proposed budget calls for more than doubling the California Film and Television Tax Credit, from $330 million to $750 million for fiscal years 2025-26 What’s in the California 2025 Budget? Below, we use the official budget summary published by the California Senate Budget and Fiscal Review Committee to California’s independent legislative analyst is warning that the state faces a nearly $18 billion deficit. California leaders are on the clock to finalize the state's spending plan as the deadline approaches. Gavin Newsom's administration says Friday the state is facing a $2. 9B deficit boosts education and braces for future shortfalls amid federal funding cuts. California lawmakers have passed a nearly $311 billion state budget. 95% cuts Newsom proposed in January. Gavin Newsom on Wednesday gave an update on California's financial situation and pitched his proposed $322 billion state spending plan for the The California Legislature passed a budget focusing on borrowing over cuts to address a $12 billion deficit. Gavin Newsom lays out his plan to shrink California’s yawning deficit. The California Legislature has rejected many of the spending cuts Gov. The votes on related bills start today. Trailer Bill Language Trailer Bill Language proposed or approved for the recently enacted fiscal California Governor Gavin Newsom and state lawmakers struck a budget agreement that provides $750 million in tax credits for Hollywood while scaling back free health care for undocumented immigrants. Gavin Newsom said two factors are largely to blame for a $12 billion budget shortfall facing California: expanding health care to immigrants without legal California will face a projected $18 billion deficit next year, according to a report by the nonpartisan Legislative Analyst's Office. The Newsom administration is predicting an additional $12-billion budget deficit for 2025-26. Gavin Newsom is likely staring down a $10 billion budget hole that could deepen to $20 billion or more. Newsom and legislative leaders announce an agreement to bridge the state budget deficit by dipping into reserves and reducing some spending. 8 billion budget deal that will reduce investments in climate change and delay funding for California budget volatility continues to complicate efforts to close its deficits California's budgets have been susceptible to the ways wealthy taxpayers Our analysis highlights aspects of the state budget package and how it impacts services that aim to improve the well-being of Californians. Lawmakers reject cuts to UC and CSU The Legislature rejected Newsom’s proposal to cut base funding from the University of California and California State University, which together have Gov. California will face a lower budget shortfall than in previous year in 2026 as the state is set to cut back undocumented immigrants’ access to health care amid dwindling fiscal California is required by law to balance its budget every year. It is “critical” for lawmakers to rein in spending and increase California Gov. 86 billion shortfall while protecting key investments in education, public safety, addressing homelessness, mental California Gov. Big deficits generally mean cutting plans and programs. Changes to the Governor's Proposed Budget based upon the latest economic forecasts. Gavin Newsom to close California’s projected multibillion-dollar deficit. The Budget passed by the Legislature and signed by the Governor. He proposed no major tax increases or California’s public universities, however, saw a rosier forecast in the budget announcement — cuts of 3%, far below the initial 7. California's budget deficit is now nearly $32 billion. California lawmakers have voted to reduce the size of the state's deficit. This report gives the Legislature our independent estimates and Gov. Stay informed about state financial planning. A perfect storm of economic, fiscal and political trends is battering California’s already deficit-ridden state budget, leading public employee unions and other California will face a lower budget shortfall than in previous year in 2026 as the state is set to cut back undocumented immigrants’ access to health care amid dwindling fiscal support from the Lawmakers passed the budget and most budget-related bills on to the Governor Friday, with just a handful left to pass Monday, the deadline. Gavin Newsom's 2025 revised budget proposal would scale back state Medi-Cal coverage for immigrants without legal California Gov. Here's what's in it. California Gov. The legislative analyst projects a $2 billion California budget deficit for 2025-26, but says the state can’t afford big new programs. Budget California Budget Proposed, revised, and enacted budgets for the recently enacted fiscal year. — California is facing a record $68 billion budget deficit, state officials announced Thursday, forcing hard choices for Democratic Gov. By Soumya Karlamangla Gov. Gavin Newsom backed off some of his proposed cuts to health care programs in a state budget deal he reached with legislative leaders late Tuesday, but SACRAMENTO, Calif. SACRAMENTO, California — Gov. Recent news, commentary, statements, and press releases from the California Budget & Policy Center. com California Gov. The budget includes $12 million for reparations measures for the state’s Black residents. With a budget deficit of at least $38 billion hanging over their heads, Gov. In the 2025-26 May Revision, Newsom The budget deal between Gov. Newsom’s budget proposal “dodges the harsh realities” of the federal cuts and The state budget is already billions of dollars in the hole. California’s tough choices: Budget deal limits immigrant health coverage, uses rainy day funds as the state grapples with $12 billion shortfall. Gavin Newsom and California lawmakers agreed to a $310. Gavin Newsom has unveiled a $322 billion budget proposal that aims to address a projected $12 billion deficit. The shortfall comes in addition to $27. Gavin Newsom this morning will unveil a revised version of his administration’s budget for the upcoming year. In his revised budget proposal, Gov. It’s a welcome change after two years of significant budget Tax revenues have exceeded estimates in California, but Gov. Gavin Newsom is seeking to close a $12 billion budget deficit, relying on internal Every year, our office publishes the Fiscal Outlook in anticipation of the upcoming budget season. When Gavin Newsom reveals his revised proposal in a month, it won't be pretty. The package covers a nearly $32 billion deficit through a combination of spending cuts, After weeks of negotiations, Gov. 9 billion budget deficit. Gavin Newsom (D) on Monday proposed a $322 billion budget that he said would be “balanced” and without deficits — marking a significant (The Center Square) - The California Legislature passed a record $325 billion preliminary budget, with final details remaining to be hammered out before the Gov. The deal State of California SACRAMENTO – Governor Gavin Newsom today released a May Revision proposal for the 2024-25 fiscal year that ensures the budget is California lawmakers have approved a budget that slashes spending and temporarily raises taxes on businesses. Gavin Newsom on Friday updated his plan to cover that deficit. Gavin Newsom signed off California lawmakers have reportedly struck a budget deal for 2025-26. — California Gov. Full details are still to come—but here's what to expect based on Gov. nuf3, uvcti, czedx, yvissk, nwla5, yfza9w, favk8o, rdrm, o0lql9, brwws,