Newsom Releases His Revised May Budget ...Middle East

Sonora, CA – In announcing his revised May budget for the 2023–24 fiscal year, Gov. Gavin Newsom disclosed that California’s budget deficit has grown to nearly $32 billion. That is an additional $10 billion more than Newsom predicted the deficit would be in his first budget proposal in January. The governor pointed to high inflation and a decision to let most people delay filing their taxes after a series of damaging winter storms. Newsom’s overall budget proposal is for $306 billion, the largest state budget in the nation. Additionally, California uses a progressive tax code that relies on wealthy taxpayers whose income is closely tied to the stock market’s performance, which has been volat

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Last updated : 13 May 2023 clock 02:32 AM

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Newsom Releases His Revised May Budget ...Middle East

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