$97.5 state surplus – California Globe

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...

California Legislature Approves $300 Billion+ State Budget Proposal

June 14, 2022 2:45 amJune 13, 2022 10:26 pm

The California legislature passed a $300 billion budget on Monday, angering some Democrats, Republicans, and Governor Gavin Newsom who wanted a budget with fewer longer term items over the record $97.5 billion surplus only being there for one year. The...

Legislative Analyst Warns CA May Face Budget Shortfall as Early as Next Year

May 18, 2022 12:22 pm

The California Legislative Analyst’s Office (LAO) issued a warning on Tuesday that California may be facing a budget shortfall as early as next year due to to the increasingly likelihood of a recession, inflation, and Governor Gavin Newsom’s spending plan...

Gov. Newsom Announces Gigantic $97.5 Billion State Surplus During $300.7 Billion State Budget Proposal Announcement

May 13, 2022 4:08 pm

During Governor Gavin Newsom’s $300.7 billion 2022-2023 revised state budget proposal announcement on Friday, he proceeded to astound Californians by also stating that the state budget surplus was now $97.5 billion. The figure towers over last years $38 billion surplus...