California lawmakers and Governor Newsom reached a budget deal to close a $46.8B deficit, using state reserves and cutting $16B, while maintaining social safety net and strengthening budget resilience.
California lawmakers and Gov. Gavin Newsom have reached a budget deal to close a $46.8-billion deficit. The agreement involves cutting $16 billion, declaring a statewide fiscal emergency, and using state reserves. The $297.7 billion spending plan includes cutting state operations by 8%, cutting the prison budget, and delaying a healthcare worker minimum wage increase. The deal aims to maintain the state's social safety net and strengthen budget resilience.
June 22, 2024
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