Gov. Gavin Newsom and the Democrats who control the state Legislature have agreed on how to spend $310.8 billion over the next year, endorsing a plan that covers a nearly $32 billion budget deficit without raiding the state's savings account.
Gov. Gavin Newsom and the Democrats who control the state Legislature have agreed on how to spend $310.8 billion over the next year, endorsing a plan that covers a nearly $32 billion budget deficit without raiding the state's savings account.
The budget, agreed upon Monday and scheduled for a vote by lawmakers this week, covers that deficit by cutting some spending - about $8 billion - while delaying other spending and shifting some expenses to other funds. The plan would borrow $6.1 billion and would set aside $37.8 billion in reserves, the most ever.
"What do Capitol Democrats have in store for you this holiday weekend? Higher gas prices!" Assembly Republican Leader James Gallagher posted on Twitter.Budget talks stalled over the weekend as Newsom sought major changes to the state's building and permitting process. The governor said the changes are needed to speed up vital construction projects, including expanding the state's energy capacity and upgrading its aging water infrastructure.
Still, some San Francisco Bay-area lawmakers said the spending wasn't enough to forestall painful service cuts over the next few years. Monday, they proposed legislation that would increase tolls on seven state-owned bridges - including the San Francisco-Oakland Bay Bridge - by $1.50 over the next five years. State Sen. Scott Wiener, a Democrat from San Francisco who supports the proposal, said it would generate $180 million in revenue.
"In good years, we buckled down so that in tough years like this one, we could meet our needs," Senate President Pro Tempore Toni Atkins said. "That pragmatic approach works for household budgeting, and it works for state budgeting."
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