Newsom and legislators implicitly assume that at some point revenues will increase enough to cover their spending and pay off ...

The state has adopted the same hide-the-pea approach to budgeting that the federal government employs, one that has resulted in trillions of debt.

To help fill the budget deficit, Newsom and lawmakers agreed to shift some funding from Proposition 4, a $10 billion climate bond approved by state voters in November, and from the proceeds of the ...

California Gov. Gavin Newsom signed on Friday a budget that pares back a number of progressive priorities, including a landmark health care expansion for low-income adult immigrants without legal ...

California’s budget deficit has soared to nearly $32 billion, Gov. Gavin Newsom said Friday as he announced a plan that would cover the shortfall this year while potentially leaving the state ...

The deficit is part of Newsom’s overall proposal for a $306 billion budget, by far the largest state budget in the nation. California is one of the only states to have a shortfall this year.

The spending plan reflects resistance to making sweeping cuts to reduce a $12-billion budget deficit expected in the year ...

Just days into his second term, Gov. Gavin Newsom announced Tuesday that California faces a projected budget deficit of $22.5 billion for the coming fiscal year.

On Wednesday, Gov. Gavin Newsom introduced a 2024-25 budget that assumes a $37.9 billion deficit, while chiding news media for repeating analyst Gabe Petek’s projection, saying they are ...

By TRÂN NGUYỄN. California Gov. Gavin Newsom has proposed a $322 billion budget without a deficit, a welcome change after two years of significant budget shortfalls in the nation’s most ...

California faces an additional $12-billion budget deficit, Newsom says . May 14, 2025. Newsom claims Trump’s tariffs will reduce California revenues by $16 billion . May 13, 2025.

The deficit is part of Newsom's overall proposal for a $306 billion budget, by far the largest state budget in the nation. California is one of the only states to have a shortfall this year.