2023-2024 state budget deficit

Legislative Analyst Warns California Can’t Afford Gov. Newsom’s 2023-24 Budget

May 24, 2023 12:42 pmMay 24, 2023 12:42 pm

The Legislative Analyst’s Office (LAO), the California Legislature’s nonpartisan fiscal and policy advisor, announced on Tuesday that the state would unlikely be able to afford the May revisions to the 2023-2024 budget as proposed by Governor Gavin Newsom, and that...

Governor Newsom Proposes Additional $290 Million For State Flood Control Projects

May 12, 2023 5:43 pmMay 12, 2023 5:44 pm

As part of his revised state budget proposal announced on Friday, Governor Gavin Newsom stated than an additional $290 million would go to flood control projects in the state, for a total of $492 million added since January. According to...

Governor Newsom’s Budget Deficit Has Climbed To $31.5 Billion

May 12, 2023 1:05 pmMay 12, 2023 1:08 pm

Governor Gavin Newsom announced Friday that the state’s budget deficit has ballooned by $9 billion, going from the initial January estimate of $22.5 billon to $31.5 billion, leading to more major cuts being implemented next fiscal year. https://twitter.com/CAgovernor/status/1657067510108405761 In total,...

Gov. Newsom Unveils $297 Billion Budget Proposal With $22.5 Billion Deficit

January 10, 2023 3:41 pmJanuary 10, 2023 6:42 pm

California Governor Gavin Newsom presented a $297 billion 2023-2024 budget plan on Tuesday, with a projected deficit of $22.5 billion. In the last several years, California has seen large budget surpluses, with $38 billion reported in 2021-2022, and $97.5 billion...

California Facing $25 Billion Budget Shortfall Next Year

November 16, 2022 4:46 pmNovember 17, 2022 8:19 pm

A Legislative Analyst’s Office report released on Wednesday found that California revenue is $41 billion below expectations, likely resulting in a massive $25 billion shortfall in the upcoming 2023-2024 state budget. The LAO recommends lawmakers start cutting the budget when...