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Bookmark or Share- California Gov. Gavin Newsom signs budget to close $46.8B budget deficitGov. Gavin Newsom has signed California’s budget to close an estimated $46.8 billion deficit through $16 billion in spending cuts and temporarily raising taxes on some businesses.
- California has a multibillion-dollar budget deficit. Here's what you ...California Gov. Gavin Newsom unveils his revised 2024-25 state budget during a news conference in Sacramento, Calif., Friday, May 10, 2024. Newsom said the state’s budget deficit has grown by $7 billion. In January, Newsom said the deficit was nearly $38 billion.
- Gov. Gavin Newsom proposes painful cuts to close California's growing ...California has a budget deficit of $27.6 billion, Gov. Gavin Newsom announced Friday — a gap so wide that he’s proposing eliminating 10,000 vacant state jobs and cutting spending across 260 state programs.
- After A $100 Billion Surplus, California Now Faces A $73 Billion Budget ...Around the time of the 2007–8 financial crisis, California faced a budget deficit of about $40 billion, which led to state worker furloughs and layoffs, the use of state IOUs, and a temporary increase in the state sales tax and in the top income tax rate.
- What contributed to California's record $68 billion budget deficit?California is facing a record $68 billion budget deficit, state officials announced Thursday, forcing hard choices for Democratic Gov. Gavin Newsom in his final term as he works to build...
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