California Gov. Gavin Newsom and leaders of the state Senate and Assembly announced an agreement Thursday to cut $17 billion from the state budget in April, providing the first details of their plan to begin to tackle the state's massive deficit.
California Gov. Gavin Newsom and leaders of the state Senate and Assembly announced an agreement Thursday to cut $17 billion from the state budget in April, providing the first details of their plan to begin to tackle the state's massive deficit. The plan calls for delaying $1 billion in funding for intercity rail projects, saving $762.
5 million by reducing funding for vacant state jobs and pulling back $500 million from a program to help districts pay for K-12 building projects, among other proposals to trim the shortfall. “We are able to meet this challenge thanks to our responsible fiscal stewardship over the past years, including record budget reserves of close to $38 billion,' Newsom said in a statement. 'There is still work to do as we finalize the budget and I look forward to the work ahead together to continue building the California of the futur
California Budget Cut Deficit Gavin Newsom State Senate State Assembly
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