January 11, 2023

Gov. Gavin Newsom’s big budget reveal Tuesday morning is only a first step in a long process: Legislators hold hearings, number crunchers update revenue projections, Newsom presents a revised version in May and he negotiates with the Legislature before approval by June 15.  But that isn’t stopping advocacy groups, Republican officials and others from reacting […]

As California's state budget morphs from a $97.5 billion surplus to a multi-billion-dollar deficit, it's another reminder about the volatility of the state's revenue system.