How Newsom plans to fix California’s projected $37.9 billion budget deficit
SACRAMENTO, Calif. — Gov. Gavin Newsom on Wednesday asked California lawmakers to dip into the state’s rainy-day reserves and signaled his desire to potentially delay a minimum wage increase for healthcare workers as part of his plan to offset an expected $37.9 billion deficit.
A confluence of weaker than expected state revenues, delayed tax deadlines and overspending based on inaccurate budget projections created the budget shortfall. From a high of a $100-billion budget surplus during the COVID-19 pandemic, the state has experienced back-to-back deficits as uncertainty continues to
