Newsom Signs Early Action Plan to Cut $17.3 Billion From California’s Budget Deficit

The governor now has until May 14 to propose a revised budget to address the state’s record deficit.

California Gov. Gavin Newsom looks on during a press conference in Sacramento, Calif., on Feb. 1, 2023. Justin Sullivan/Getty Images

A bill that shaves about $17.3 billion from the state’s budget deficit was signed into law April 15 by California Gov. Gavin Newsom.

The governor said the move will ensure core services are maintained while providing flexibility to work toward balancing the state’s upcoming budget for fiscal year 2024-25, which begins July 1.