Newsom’s CA Budget Deficit $7 Billion Worse Than Predicted

  • California’s budget deficit in the upcoming fiscal year is $7 billion more than Gov. Gavin Newsom, D-Calif., predicted last month, according to a report from the state’s Legislative Analyst’s Office (LAO).
  • Newsom said in January that California had a projected budget deficit of $22.5 billion for the next fiscal year, but the LAO found that the state likely will receive $10 billion less in tax revenues than expected.
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