Lawmakers, Governor Looking to Address Budget Deficit With Early Action Proposal

Faced with a growing budget deficit, California lawmakers are negotiating a plan to close the gap with spending reductions, among other things. Announced March 14, state Senators introduced a budget proposal dubbed “Shrink the Shortfall” that offers $17.1 billion in potential solutions. “When times are tight at home, people buckle down and do what needs to be done,” state Senate Pro Tem Sen. Mike McGuire said in a press release announcing the plan. “That’s what the Golden State has to do right now too.” The scale of the Golden State’s deficit is a subject of debate among leaders, with Gov. Gavin Newsom’s office suggesting it was $38 billion in January while the nonpartisan Legislative Analyst’s Office said the figure was closer to $58 billion earlier this year, which swelled to $73 billion last month after tax revenue failed to meet expectations....