$68 billion budget deficit – California Globe

CA 2025-2026 State Budget Deficit at $2 Billion, Expected To Grow Exponentially

November 21, 2024 2:45 amNovember 21, 2024 2:46 am

The Legislative Analyst’s Office unveiled the California state budget forecast for the 2025-2026 fiscal year on Wednesday, showing a $2 billion deficit for the year, but with the number expected to grow exponentially if more cuts aren’t made soon. California’s...

Governor Newsom Signs 2024-2025 State Budget

July 1, 2024 5:16 pmJuly 2, 2024 3:51 pm

Governor Gavin Newsom signed the 2024-2025 state budget legislation Saturday, officially putting the new $297.9 billion budget into effect on Monday. The California State Legislature approved the 2024-2025 budget plan on Wednesday night, giving the green light on California spending...

Newsom’s Budget Revisal Proposes 10,000 Vacant State Jobs Being Cut, Cuts To 260 State Programs

May 11, 2024 7:45 amMay 11, 2024 7:45 am

During his May revised 2024-2025 state budget proposal announcement on Friday, Governor Gavin Newsom proposed cutting around 10,000 vacant state jobs, as well as spending to 260 state programs. Back in January, Governor Newsom released his first 2024-2025 state budget...

California Budget Deficit Balloons To $73 Billion According to Legislative Analyst

February 20, 2024 6:43 pmFebruary 20, 2024 6:43 pm

According to a new updated revenue forecast report released by the Legislative Analyst’s Office on Tuesday, California’s budget deficit for the 2024-2025 year was increased from the previously estimates of $58 billion and $68 billion to $73 billion. California’s state...

Legislative Black Caucus Unveils 14 Reparations Bills for 2024

February 1, 2024 1:01 pmFebruary 1, 2024 1:04 pm

The California Legislative Black Caucus announced on Wednesday they will be introducing 14 reparations bills this year in the legislature, all while avoiding giving out direct cash payments because of a severe lack of popularity in both the Legislature and...

Only $8.5 Billion Cut From California’s Proposed 2024-2025 Budget

January 10, 2024 6:15 pmJanuary 10, 2024 6:15 pm

Governor Gavin Newsom released his preliminary 2024-2025 state budget on Wednesday, with the total budget amount going down from $330 billion to $291.5 billion. However, in addition to not completely covering the LAO expected deficit of $68 billion, with Governor...

Governor Newsom to Announce 2024-2025 Budget Proposal Wednesday

January 8, 2024 12:14 pmJanuary 9, 2024 8:30 am

Governor Gavin Newsom’s 2024-2025 State Budget proposal is due to be announced no later than Wednesday this week, with many analysts unsure at just how Newsom is planning to tackled the $68 billion deficit facing the state this upcoming fiscal...