California’s budget shortfall could be even larger than first anticipated. A new report from the Legislative Analyst’s Office shows a projected deficit of 73-billion dollars, 15-billion more than their previous estimate. And it’s a far cry from Governor Newsom’s 38-billion dollar number announced in January. The LAO report reveals weaker than expected revenue collections. The LAO report recommends the Legislature start by reviewing whether “recent augmentations for one-time and temporary spending could be pulled back or reduced.” The report indicates those cuts could result in 16-billion dollars in such solutions over three budget cycles.
California Budget Now $15-Billion More Than Expected
