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California faced another budget gap for 2010, [8] with $72 billion in debt. [9] California faced a massive and still-growing debt. [10] In June 2009 Gov. Arnold Schwarzenegger said "Our wallet is empty, our bank is closed and our credit is dried up." [11] He called for massive budget cuts of $24 billion, about 1 ⁄ 4 of the state's budget. [11 ...
California Gov. Gavin Newsom outlines his proposed 2025-2026 $322 billion state budget during a news conference at California State University, Stanislaus in Turlock, Calif., Monday, Jan. 6,2025.
California's budget difficulties were compounded last year when the state and federal government delayed the deadline to file 2022 income tax returns from April to November due to winter storms ...
Faced with a $44.9-billion budget deficit, Gov. Gavin Newsom described a plan to shrink the size of state government and slow his progressive policy agenda by eliminating 10,000 vacant state jobs ...
These documents help set the agenda for the work of the Legislature's fiscal committees in developing a state budget. Staff of the office work with these committees throughout the budget process and provide public testimony on the office's recommendations. More generally, the office is a staff resource to all legislators.
The Big Five is an informal institution of California state government, consisting of the governor, the Assembly speaker, the Assembly minority leader, the Senate president pro tempore, and the Senate minority leader. Historically, members of the Big Five met in private to negotiate California's state government budget.
The Legislative Analyst’s Office identified around $15 billion in cuts that could be made to make up for the state’s shortfall. California has dueling budget deficits. Here’s what that means ...
The California Department of Finance is a state cabinet-level agency within the government of California. [1] The Department of Finance is responsible for preparing, explaining, and administering the state's annual financial plan, which the governor of California is required under the Constitution of California to present by January 10 of each year to the general public.