California has a budget deficit of $27.6 billion, Gov. Gavin Newsom announced Friday — a gap so wide that he's proposing cutting 10,000 vacant state jobs and suspending some widely used business tax deductions.
California has a budget deficit of $27.6 billion, Gov. Gavin Newsom announced Friday — a gap so wide that he's proposing cutting 10,000 vacant state jobs and suspending some widely used business tax deductions.The Democratic governor outlined the deficit Friday as part of his proposed $288 billion state budget for the fiscal year that starts July 1. It's the largest of any state.'These are programs, propositions that I've long advanced -- many of them,' Newsom said.
'We still have a shortfall. We will manage it and we'll manage it, yes, without general tax increases,' Newsom said on Wednesday during an event held by the California Chamber of Commerce. 'We're not just going to try to solve for this year. I want to solve for next year. I think it's too important. We have got to be more disciplined.
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