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Gov. Newsom and Democratic leaders in the Legislature announce a deal on early action to shrink the state’s budget shortfall by $17 billion. Votes are expected next week, ahead of action on the 2024-25 budget in May and June.
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The state is considering zeroing out funds for CalWORKS family stabilization and job subsidy programs to help balance the budget.
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Governor Gavin Newsom has proposed cutting foster care support programs, including an increased rental subsidy and 24/7 urgent response hotline.
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The Legislative Analyst’s Office projects the 2024-25 shortfall at $73 billion, putting more pressure on legislators and the governor to find savings.
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How California budget rules can prevent saving for a rainy day — and why Newsom wants to change thatThe swing from a $100 billion surplus to a deficit somewhere between $38 and $68 billion in just two years illustrates the volatility of California’s tax system. It also has Governor Gavin Newsom eyeing changes to how much money the state saves during years of surplus.
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About 500,000 California health care workers were expected to see pay increases under a law that set a new minimum wage for their industry. Gov. Gavin Newsom wants to delay the pay bumps until the state budget has a stronger outlook.
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The nonpartisan Legislative Analyst’s Office says that Gov. Gavin Newsom’s initial 2024-25 budget is “optimistic” on revenue and has strengths and weaknesses on spending. The LAO offers guidance to state lawmakers on their version.
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Facing big deficits, the governor has proposed taking a bigger chunk out of climate programs in his new budget — about 7% — and spreading the funds over seven years. Climate groups said cutting back on state spending now would cost the state more later.
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Gov. Newsom says the deficit is far smaller than what the Legislature’s analysts projected, and proposes only $8.5 billion in cuts by delaying spending and taking $13 billion from the state’s main reserves.
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Libraries across Oregon are facing substantial cuts in their budgets, which industry leaders worry could lead to more stress and burnout among library workers, according to the State Library of Oregon.
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California lawmakers gaveled in Wednesday, briefly, for the 2024 legislative session with plenty to do, but scant cash to go around.
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After three-and-a-half months at home, California legislators returned to Sacramento Wednesday for a seven-month session where a budget deficit and the election will be top of mind.
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California’s Legislative Analyst’s Office projects a 2024-25 budget deficit twice as large as 2023-24. It says the state could dip into reserves and cut some one-time spending.
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Southern Oregon University President Rick Bailey discussed the university's financial situation ahead of the upcoming school year.