California Democrats agree on plan to reduce budget deficit by $17.3 billion
A live TV news station covering breaking news and traffic for Colorado Springs, Pueblo, and Southern Colorado with a strong investigative team California Democratic leaders have agreed on a plan to reduce the state's budget deficit by $17.3 billion. The agreement includes a $3.6 billion cut in primarily one-time funding, delaying and deferring about $5.2 billion in spending on various programs. It also authorizes Gov. Gavin Newsom to freeze an unspecified additional one time funding. Republicans claim they were excluded from the discussion. The deal is expected to be voted on by lawmakers next week.
Published : 4 weeks ago by in Finance
SACRAMENTO, Calif. (AP) — California Democratic leaders have announced they have agreed on a plan to reduce the state’s staggering budget deficit by $17.3 billion. California is facing a multibillion-dollar budget shortfall of at least $37.9 billion. The agreement announced Thursday includes a $3.6 billion cut in primarily one-time funding, delaying and deferring about $5.2 billion in spending on various programs. It also authorizes Gov. Gavin Newsom to freeze an unspecified additional one-time funding. It omits a previous proposal to cut housing and homeless services. Republicans say they were shut out of the conversation. Lawmakers are expected to vote on the deal next week.
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