www.nytimes.com
4 months agoNewsom Seeks to Close $37.9 Billion Deficit by Cutting Spending and Using Reserves
Gov. Gavin Newsom announced a $37.9 billion budget deficit in California and asked lawmakers to address it by cutting spending and using reserves.
The deficit is lower than projected, and Newsom plans to cover nearly half of it with reserves and delay spending commitments into the next fiscal year. [ more ]