Governor Gavin Newsom, alongside Democratic leaders of the California State Senate and Assembly, including Speaker Robert Rivas and Senate Pro Tem Mike McGuire, have announced an agreement aimed at addressing the state's significant budget deficit, which is at least $38 billion. The agreement, which has been made without public input and detailed specifics, proposes budget solutions estimated between $12 billion and $18 billion to mitigate the shortfall. However, the exact measures to be taken are still to be determined, with Newsom's office providing limited information and other legislative leaders yet to fully endorse the plan. This announcement comes amid criticisms of a lack of transparency and the state's financial management, with California facing a quarter-trillion-dollar gap between its spending commitments and available funds. The process has been described as opaque, with no details provided on the agreement.
California's financial rollercoaster continues, from a surplus to a $73 billion deficit in a year. All while having the highest income tax, highest business tax, highest sales tax, and highest gas tax. Yet the Golden State still can’t pay its bills. https://t.co/Ch83pfIfRG
With an illegal budget deficit of $38 billion, Gov. Gavin Newsom and other Democrats announced an agreement to reduce it. But can't say how. The only way is to reduce commitments they made to increase spending on education despite plummeting enrollment.
California Has Promised a Quarter-Trillion Dollars More Than It Has to Spend #California https://t.co/Of0qivUU9C https://t.co/Of0qivUU9C
Newsom and Democrats announce a plan to reduce the enormous budget deficit. How? TBD https://t.co/H14moLnL2F
Newsom and Democrats announce a plan to reduce the enormous budget deficit. How? TBD With a budget deficit of at least $38 billion hanging over their heads, Gov. Gavin Newsom and Democratic leaders of the state Senate and Assembly announced an agreement on Wednesday to take… https://t.co/yCRPqWpmIU
Governor Newsom and Sacramento Democrats announced a budget agreement they reached without public input. Apparently, there’s a budget deal with no details. Hopefully, it is not covered by a NDA. Californians demand transparency.
Newsom’s office clarifies that they have agreed to moving early and addressing $12-$18B, but how exactly is still TBD. At least Newsom and his office have given us little bits of info, the Speaker’s office and Pro Tem’s have been non-responsive to an already opaque “process” https://t.co/3yT2ZiWiCT
JUST IN; Gov. Newsom sends statement claiming he and Legislature reached an “agreement” on early budget. His office didn’t give any details, and sources in Assembly tell me lawmakers in that house are not yet on board. Speaker Rivas’ statement here is also telling: https://t.co/xtvD19fiOn
The governor and legislative leaders put out a press release touting an agreement to "budget solutions worth $12 to $18 billion to address the shortfall" with zero details about what those are.
NEW: Gov. Newsom, Speaker Robert Rivas, and Senate Pro Tem Mike McGuire have reached an agreement to address the budget gap. Asked for more details on what's in the agreement but a statement released by Newsom's team says their plan looks to reduce the deficit by $12B-$18B. https://t.co/m9xKqYaVoh