- The California Legislative Analyst’s Office estimates the state will have a $26 billion revenue shortfall for the 2022-2023 fiscal year and announced the state entered into a recession in March of 2023.
- The news comes the day after Governor Gavin Newsom defended Democrats’ economic record in a nationally televised debate. State Republicans blame Newsom and California Democrats for nearly doubling the state’s budget over the last six years and called for reductions in government programs to protect critical government functions from severe budget cuts.
Newsom’s California Facing $26B Deficit, Has Been In Recession Since March
FILE - California Gov. Gavin Newsom speaks during an interview in Sacramento, Calif., Tuesday, Sept. 12, 2023. Newsom has signed a bill to ban school boards from rejecting textbooks based on their teachings about the contributions of people from different racial backgrounds, sexual orientations and gender identities. On Monday, Sept. 25, Newsom said the measure is “long overdue.” (AP Photo/Rich Pedroncelli, File)