Governor Solved Budget Deficit Twice as Large as Reported in May Revision, Analysts Calculate

Gov. Newsom had rejected the Legislative Analyst’s Office assessment that the deficit amounts to $73 billion, but his fixes total that amount.

California Gov. Gavin Newsom announces the state’s revised budget in Sacramento on May 10, 2024. Office of California Governor Gavin Newsom

California lawmakers have identified about $73 billion in solutions to balance the state’s fiscal year 2024–2025 budget in the past months, according to a report published by the nonpartisan Legislative Analyst’s Office on May 17.

According to the report, Gov. Gavin Newsom proposed about $55 billion in fixes in his budget revision released on May 10, and the Legislature approved an early action plan solving $17.3 billion in a measure that was signed into law on April 15.