LAO – Page 3 – California Globe

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...

$61 Million in California Film Tax Credits Unveiled

February 26, 2024 12:22 pmFebruary 26, 2024 12:23 pm

The California Film Commission (CFC) announced on Monday that they would be allocating $61 million of the roughly $330 million in California film tax credits, with the Disney Production The Mandalorian and Grogu to receive a near record amount of...

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...

Ringside: Water Rationing is the Worst Way to Build Resiliency

January 11, 2024 2:45 amJanuary 11, 2024 2:46 am

When a public policy decision is flawed, and the reasons it is flawed are simple and obvious, and the consequences are huge and costly, the appropriate response for a concerned observer is to call attention to the looming debacle. Not...

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...

California Budget Deficit Climbs To $68 Billion

December 7, 2023 7:51 pmDecember 7, 2023 7:51 pm

The Legislative Analyst’s Office (LAO) announced on Thursday that the state budget deficit now stands at $68 billion for the 2024-2025 fiscal year, $10 billion higher than initial projections showed earlier this month. California’s state budget has fluctuated wildly in...