Newsom Signs Early Action Plan to Cut $17.3 Billion From California’s Budget Deficit

Published on April 17, 2024

California Gov. Gavin Newsom signed into law on April 15 a bill that shaves about $17.3 billion from the state’s budget deficit. The governor said the move will ensure core services are maintained while providing flexibility to work toward balancing the state’s upcoming budget for fiscal year 2024–25, which begins July 1. “This action strongly positions the state to pass a balanced budget in June that protects key programs Californians rely on,” Mr. Newsom said in a press release announcing the signing. “I thank our leaders in the Legislature for their commitment to finding common ground as we continue working towards responsibly meeting this challenge in the months ahead.”...

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