California’s budget deficit nears $18B, analysts say скачать в хорошем качестве

California’s budget deficit nears $18B, analysts say

California is facing an almost $18 billion budget deficit next year, according to a new report from the Legislative Analyst’s Office, which estimates the shortfall will be $5 billion larger than Governor Gavin Newsom expected. Finance officials say the deficit stems from several pressures, including Proposition 98’s required funding for schools, cuts in federal support during the Trump administration, stock market volatility, and rising costs in major programs such as Medi-Cal, which serves one in three Californians. Although state revenues are running $6 billion ahead of projections due to high-income tax receipts and market gains, analysts say spending continues to outpace revenue. Experts warn the state faces a long-term structural imbalance. Republican Sen. Roger Niello says lawmakers must reevaluate programs created during surplus years to determine their effectiveness and sustainability. Governor Newsom will present his budget proposal in January, with a revision expected in May. #CaliforniaBudget #BudgetDeficit #CaliforniaNews #StateSpending #LAOReport Get the news today live and weather with the free ABC10+ TV streaming app: https://www.abc10.com/article/about-u... Subscribe at: https://goo.gl/vai8Eu Find ABC10 online: https://www.abc10.com/ Sign up for our newsletter: https://www.abc10.com/email Stream ABC10 on Roku: https://channelstore.roku.com/details... Stream ABC10 on Amazon Fire: https://www.amazon.com/Gannett-Broadc... Stream ABC10 on AppleTV: https://itunes.apple.com/us/app/abc10... Like ABC10 on Facebook:   / abc10tv   Like ABC10 on Instagram:   / abc10tv   Follow ABC10 on Twitter:   / abc10   App download Android: https://play.google.com/store/apps/de... App download iPhone: https://apps.apple.com/us/app/abc10-n...