Newsom’s Revised Budget Doesn’t Cut Enough

California Gov. Gavin Newsom announces the May budget revision in Sacramento on May 12, 2023. Newsom said the state's budget deficit has grown to nearly $32 billion, about $10 billion more than predicted in January when the governor offered his first budget proposal. Hector Amezcua/The Sacramento Bee via AP

Commentary

As expected, California Gov. Gavin Newsom’s revision of his January budget proposal, announced at 10 am May 12, projects a major deficit of $31.5 billion for fiscal year 2023-24, which begins on July 1. That’s $10 billion more than his January projection of a $22.5 billion deficit.