Newsom says budget is balanced, will still tap $7 billion in reserves
Briefly

from www.mercurynews.com1 month ago
Governor Gavin Newsom's budget proposal for 2025-2026 boasts a potential surplus, but relying heavily on reserve funds raises concerns about California's financial sustainability in the long term.
www.mercurynews.comhttps://www.mercurynews.com/2025/01/10/newsom-says-budget-is-balanced-will-still-tap-7-billion-in-reserves/
Republicans criticized Newsom for planning new expenditures while depleting reserves, highlighting the contradiction in declaring a surplus while drawing from savings meant for emergencies.
www.mercurynews.comhttps://www.mercurynews.com/2025/01/10/newsom-says-budget-is-balanced-will-still-tap-7-billion-in-reserves/
California's Director of Finance noted we are 'not facing a budget shortfall,' but emphasized the need for continual work to ensure fiscal sustainability amidst potential financial threats.
www.mercurynews.comhttps://www.mercurynews.com/2025/01/10/newsom-says-budget-is-balanced-will-still-tap-7-billion-in-reserves/
The budget proposal reflects a modest surplus of $363 million but includes significant withdrawals from the rainy day fund, questioning the state's financial management and priorities.
www.mercurynews.comhttps://www.mercurynews.com/2025/01/10/newsom-says-budget-is-balanced-will-still-tap-7-billion-in-reserves/
Read at www.mercurynews.com
#california-budget #gavin-newsom #financial-planning #political-criticism #state-reserves
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