California

$322 Billion California State Budget Earmarks Funds for High-Speed Rail, Tax Credits for Hollywood

California has passed the $322 billion total budget bill. Here’s what is in it.
$322 Billion California State Budget Earmarks Funds for High-Speed Rail, Tax Credits for Hollywood
The California State Capitol building in Sacramento, Calif., on April 18, 2022. John Fredricks/The Epoch Times
Kimberly Hayek
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After a last-minute adjustment to include reforms to housing and infrastructure demanded by Gov. Gavin Newsom, the California 2025 state budget has now been agreed to by the Legislature and was signed off by the governor on June 30.

The state budget for the 2025–2026 fiscal year, starting on July 1, amounts to $322 billion in total spending, while closing a $12 billion deficit and projecting a $21 billion structural deficit.

Kimberly Hayek
Kimberly Hayek
Author
Kimberly Hayek is a reporter for The Epoch Times. She covers California news and has worked as an editor and on scene at the U.S.-Mexico border during the 2018 migrant caravan crisis.