California Gov. Gavin Newsom is proposing to cut billions of dollars in climate spending and delay funding of major programs to balance a $22.5 billion budget deficit if tax revenues don’t rebound.
The $297 billion budget blueprint Newsom unveiled on Tuesday was a stark departure from the fiscal boom times California enjoyed as recently as last year, when an unprecedented $100 billion surplus that Newsom himself called “absurd” underpinned a record $310 billion budget. California has $29.5 billion less revenue this year.
But Newsom is not yet proposing to uncork a budget reserve account that contains some $22.4 billion, and he is not predicting a recession this year. The Democratic governor also maintained his previous commitments to spend on ambitious programs like universal transitional kindergarten and healthcare for undocumented immigrants.
“I look forward to working with my Assembly colleagues, the Senate, and the Governor on a 2023 budget that protects classroom, child care, and university funding while safeguarding core programs that protect our environment and our most vulnerable residents,” Rendon said. But this lean budget cycle will test state lawmakers who have little experience negotiating from a place of scarcity. California has enjoyed a run of budget surpluses, with the exception of a projected 2020 shortfall during the Covid-19 pandemic shutdown that never materialized.
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