$54.3 billion deficit gap – California Globe

Assembly Bill To Raise Taxes For Higher Income Earners Faces Tough Legislative Votes

August 3, 2020 1:01 pmAugust 4, 2020 8:09 pm

On Monday, a recently amended bill that would increase taxes on small businesses and taxpayers making over $1 million of taxable income a year began it’s month-long fight to be passed and approved by the end of the legislative session...

Assembly Approves 2020-2021 State Budget of $202.1 billion

June 26, 2020 9:15 pm

On Friday, the California State Assembly approved the $202.1 billion 2020-2021 state budget 57-16, one day after being approved by the Senate. Final approval in Sacramento The budget, which had to bridge a $54.3 billion deficit gap, will include many...

Governor Newsom Declares State Budget Emergency to Use Rainy Day Funds

June 26, 2020 2:05 amJune 25, 2020 8:13 pm

On Thursday, Governor Gavin Newsom declared a state budget emergency to use emergency “rainy day” funds for the 2020-2021 budget and to help bridge the $54.3 billion deficit gap. The rainy day funds were opened up to help pay for...