Trending

TV

California Faces $25 Billion Deficit After Years Of Surplus

  • The Legislative Analyst’s Office released its report on Wednesday, emphasizing the upcoming $25 billion deficit, which they say is mostly due to “lower revenue estimates.”
  • The state’s last budget was $308 billion with a $97 billion surplus, and the year prior to that, the budget was $263 billion with a $76 billion surplus. The state currently has $37.2 billion of reserves.
  • “It’s not insignificant, but it’s also manageable,” Legislative Analyst Gabriel Petek said. “We don’t think of this as a budget crisis.”
Click to read full article Go back home

Sign Up for Our Newsletter

Join our list!

Sign up here to get our daily newsletter with the top trending headlines.