|
Yesterday, Governor Gavin Newsom released his 2024-2025 budget plan, which includes a deficit of $37.9 billion. The total planned budget is $291 billion, down from the $311 billion budget signed into law last year. In order to balance the budget, the Governor has proposed spending cuts to various initiatives, including housing and climate programs.
The proposed budget will be negotiated with the Legislature with a June 15th deadline to pass it prior to the start of the fiscal year on July 1st.
|