California faces a $2 billion budget deficit, with warnings of a $30 billion shortfall by 2028.

California faces a $2 billion budget deficit next year, according to the Legislative Analyst's Office (LAO), but higher-than-expected tax revenues could help balance the budget. Despite this, spending on education, healthcare, and wildfire management has increased by $10 billion. The LAO warns of a growing deficit, projecting a $30 billion shortfall by 2028-29, and urges lawmakers to avoid new spending commitments.

November 20, 2024
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