California Governor Newsom, Legislative Leaders Announce Budget Agreement

Published on June 25, 2024

With days to go before a balanced budget must be passed and signed into law, California Gov. Gavin Newsom announced June 22 that he had reached an agreement with the highest-ranking members of the Senate and Assembly. “This agreement sets the state on a path for long-term fiscal stability—addressing the current shortfall and strengthening budget resilience down the road,” Mr. Newsom said in a press release. “I’m grateful for the partnership of our legislative leaders in meeting this challenge with balanced solutions that continue to make progress on California’s priorities.” Senate President Pro Tem Mike McGuire and Assembly Speaker Robert Rivas worked with the governor to finalize a plan they said they believe protects core services and programs—including education, housing, and homelessness—while maintaining budget reserves....

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