Posted on 01/10/2023 12:17:27 PM PST by ChicagoConservative27
Gov. Gavin Newsom (D) on Tuesday unveiled a 2023 state budget proposal that includes significant cuts to climate investments — even as a relentless storm system battered California’s coast.
California is now facing an estimated budget gap of $22.5 billion for the 2023-2024 fiscal year, which the governor attributed to declines in both withholding and capital gains taxes.
EQUILIBRIUM & SUSTAINABILITY Newsom’s 2023 budget proposal includes climate cuts, to tackle fiscal shortfalls BY SHARON UDASIN - 01/10/23 2:57 PM ET SHARE TWEET
FILE – California Gov. Gavin Newsom delivers a speech after taking the oath of office on Friday, Jan. 6, 2023, outside the California state Capitol in Sacramento, Calf. On Tuesday, Jan. 10, Newsom will reveal his plan to cover what is expected to be a multi-billion dollar budget deficit. (Yalonda M. James/San Francisco Chronicle via AP, File) Gov. Gavin Newsom (D) on Tuesday unveiled a 2023 state budget proposal that includes significant cuts to climate investments — even as a relentless storm system battered California’s coast.
California is now facing an estimated budget gap of $22.5 billion for the 2023-2024 fiscal year, which the governor attributed to declines in both withholding and capital gains taxes.
And although the state has $35.6 billion in budgetary reserves, including $22.4 billion in its “budget stabilization account,” the shortfall has led to some major cuts across the board.
“We’re not touching the reserves because we have a wait and see approach to this budget,” Newsom said at a press conference where he released the new budget proposal.
“We are in a very volatile moment,” the governor added, noting that the budget will be revised in May when “there’s more clarity.”
Regardless of the shortfalls, Newsom emphasized that climate initiatives for the most part were unscathed in the new budget proposal.
(Excerpt) Read more at thehill.com ...
Whatever it is, it has to be closed. It’s not legal to run a deficit in CA.
“Government” revenue is generated by the private sector. The healthier the economy, the more reliably funded are government services. Many (many) people seem to be oblivious to this fact.
Yes apparently their huge federal bailout is all gone…probably to shore up exorbitant state pension funds.
The best thing for Californai would be if a meteor were to take out all of Sacramento.
If it weren’t for the Republican-induced climate change and the storm damage occurring to the state right now, California wouldn’t be having a budget problem. /s
>>Budget gap??? Newsom said the state is swimming in a surplus..<<
Add in PERS and CA has a 1 Trillion PLUS debt.
Sacramento is the least of the problems in this state aside from it being the gathering spot of state wide liberals. Much of that area is fairly conservative.
Let San Fransisco and Los Angeles get hit and wipe out the liberals infesting those areas, and in between, and you may get close to a 50/50 split again.
It’s not cutting until lazy ass government employees are standing in the unemployment line. Lots of them.
That is not a sacrifice that I am prepared to make. Don’t be so casual about the lives of good people who only live in the wrong place. You don’t kill a dog because it is mangy and has fleas.
No problem, just raise taxes further. When you get to 100%, all is in balance.
His policies are forcing the taxpayer base to leave the state while importing and supporting illegals. Newsom is a mental midget.
His surplus you see how he lives and where.
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