Newsom’s 2023 budget proposal includes climate cuts, to tackle fiscal shortfalls

‘We’re keeping our promises:’ Gov. Newsom unveils $297 billion budget, $22.5 billion deficit

Climate investments and transit take the brunt of the cuts, while Gov. Gavin Newsom doesn’t want to tap into California’s substantial rainy day fund.

‘We’re keeping our promises:’ Gov. Newsom unveils $297 billion budget, $22.5 billion deficit

California is ready to weather an economic downturn — and a more than $20 billion budget shortfall — without shirking its commitments in the crucial areas of education, homelessness and fighting wi…

Reversal of fortune: Gov. Newsom outlines plan to deal with budget deficit

By Alexei Koseff CalMatters Government Writer  California will delay some spending commitments, reverse recent budget resiliency measures and shift funding sources to limit the amount of cuts it has to make to close a projected $22.5 billion deficit, Gov. Gavin Newsom said Tuesday.  The shortfall, slightly less than the $24 billion that financial analysts for the Legislature estimated in November, will not prevent the state from fulfilling its p…

California faces budget deficit of $22.5B, governor says

SACRAMENTO, Calif. (AP) — California faces a projected budget deficit of $22.5 billion for the coming fiscal year, Gov. Gavin Newsom announced Tuesday, just days into his second term. It’s a sharp turnaround from last year’s $98 billion surplus. The deficit, while unsurprising, could signal the end of a decade’s worth of economic growth in the nation’s most […]

Newsom’s 2023 budget proposal includes climate cuts, to tackle fiscal shortfalls

Gov. Gavin Newsom (D) on Tuesday unveiled a 2023 state budget proposal that includes significant cuts to climate investments — even as a relentless storm system battered California’s coast. California is now facing an estimated budget gap of $22.5 billion for the 2023-2024 fiscal year, which the governor attributed to declines in both withholding and…

Gavin Newsom proposes climate change cuts to alleviate $22.5 billion budget deficit

Gov. Gavin Newsom (D-CA) announced a plan to reduce climate change programs to combat a projected $22.5 billion budget deficit.