California has a multibillion-dollar budget deficit. Here’s what you need to know ...Middle East

By TRÂN NGUYỄN Associated Press SACRAMENTO, Calif. (AP) — California has a huge budget problem that could force thorny decisions from Democratic leaders who enjoyed a more than $100 billion surplus just three years ago. This is the second year in a row the nation’s most populous state is facing a multibillion-dollar shortfall. State revenues have continued to fall amid increasing inflation and a slowdown in the state’s usually robust technology industry. Democratic Gov. Gavin Newsom on Friday announced his plan to address the deficit in the state’s budget. The release of his plan kicks off a budget negotiation marathon with Democratic lawmakers, who hold supermajorities in both chambe

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California has a multibillion-dollar budget deficit. Here’s what you need to know ...Middle East

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