Tag: Budget Deficit
Legislative Analyst Details State’s Fiscal Outlook, Budget Problem
Growing personal income tax collections have been a “bright spot” in the state’s fiscal outlook in recent months, California Legislative Analyst Gabriel Petek told...
State Budget for 2025–26: What’s In, What’s Out
Gov. Gavin Newsom signed into law a series of bills to enact the state budget for the fiscal year beginning July 1, a $321...
Governor Releases Revised Budget Plan for 2025–26
This week, Governor Gavin Newsom released his May revision plan for the 2025–26 state budget, including adjustments for a new shortfall estimated at $12...
CalChamber, Coalition Urge UI Debt Help in State Budget
The California Chamber of Commerce and a broad coalition of business groups are urging state leaders to deliver on the commitments made in California’s...
Legislative Analyst Forecasts Multiyear State Budget Deficits
The new year will bring in big changes to California politics and governance.
Some 35 new legislators will start work in the State Capitol. A...
Analysis: May Budget Revision Released
Governor Newsom announced his strategy to address an estimated $27.6 billion deficit for the upcoming budget year, and a $28.4 billion projected deficit for...
California Finance Director Projects Slow Economic Growth; No New General Tax Increases Planned to Cover Budget Shortfall
California is expected to see slow but steady revenue growth in the 2024–2025 fiscal year, requiring state leaders to cover a $37.8 billion budget...
Governor Proposes Belt-Tightening Budget Approach with No General Tax Hikes
It’s a problem, but not a crisis.
The state budget proposed by Governor Gavin Newsom would maintain the trajectory of state spending without major disruptions...
State Budget Deficits Tagged at $68 Billion; Revenue Estimate May Worsen Next Year
California’s famously volatile tax machine has delivered another dose of unpredictability.
Prudent Budget Proposal Keeps Key Commitments, No Tax Hikes
Governor Gavin Newsom released his revised budget on May 12, revealing a larger revenue shortfall, higher estimated safety net spending, but even so not...
