What you need to know about the California budget deal
Briefly

The $297.9 billion spending plan by Gov. Newsom involves cuts, reserves, and pausing business tax credits to address a $56 billion deficit over two years, aiming for long-term fiscal stability.
The agreement includes preserving key funding for education, health care, behavioral health, and homelessness, along with delaying health care wage hikes to save hundreds of millions of dollars.
The plan involves $16 billion in cuts, including a 7.95% reduction in funding for state departments and eliminating vacant positions, aiming to address the budget deficit and ensure fiscal resilience.
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