In major turnaround, California will have a budget surplus, Newsom says

  • Posted on January 6, 2025
  • By Bing News
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In major turnaround, California will have a budget surplus, Newsom says

TURLOCK — California will not have a budget deficit next year, Gov. Gavin Newsom announced on Monday based on projections from his finance team. The budget picture Newsom describes is a major turnaround from the $47 billion deficit last year and the $32 billion shortfall the year before. Newsom and the nonpartisan Legislative Analyst’s office, which makes budget projections for the Legislature, both attribute the improvement to stock market...
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