
WhatMatters
Winners and losers in Newsom’s California budget deficit plan
What are the big takeaways from Gov. Gavin Newsom’s updated 2023-24 budget proposal, the so-called May revise? The impact of climate change. Fiscal restraint with a looming recession. And almost certainly, no tax increases to cover the growing budget deficit. The spending plan Newsom unveiled Friday anticipates a $31.5 billion deficit, up from $22.5 billion […]