Tag Archives: State Budget

Background Although the CA State government honed a budget surplus of nearly $100 billion dollars six months ago, it is now facing a budget deficit of $22.5 billion because of spiraling inflation and a weakening stock market, which is problematic given that the budget relies heavily on capital gains from CA’s wealthiest residents. Therefore, toContinue reading “California budget faces deficit: Newsom proposing spending cuts to balance the budget”