The surplus alone is much bigger than nearly every other state’s annual budget.
$4.3 million in funding was secured in the state’s budget for a recently proposed walking path along the San Gabriel River that could run from Carson Street south to Atherton Street.
The $262.6 billion proposal now on Gov. Gavin Newsom’s desk would restore spending cuts to public schools, colleges and universities, the courts, child support services and state worker salaries
As of January, the state’s tax collections were $10.5 billion ahead of projections. It’s so much money that, for just the second time ever, the state is projected to trigger a state law requiring the government to send refunds to taxpayers.
Unless California gets billions in federal money, state workers will lose about 10% of their paychecks and the two university systems will lose a combined $602 million.
The cuts are part of a plan to cover a $54.3 billion budget deficit caused by plummeting state revenues after a mandatory, statewide stay-at-home order forced most businesses to close and put more than 4.7 million people out of work.
Lawmakers have approved the budget. Now it’s waiting for a signature from Gov. Gavin Newsom.
Those items are part of a “parents’ agenda” Newsom will announce Tuesday in a preview of the revised state budget he’ll present later this week.
Legislative leaders reached a budget deal today for $117.5 billion, including $40 million to cover the healthcare of immigrant children throughout California through Medi-Cal in 2016 and additional funding for day cares and state schools, including California State University, Long Beach (CSULB).
In the midst of California’s state budget negotiations, the legislature must separately decide how to spend the state’s cap-and-trade revenue, be it on public transit, high-speed rail, affordable housing near transit, or other emissions-reducing programs. Long Beach’s City Fabrick has created an infographic that breaks down precisely how the Governor, Senate, and Assembly plan on spending the funds.