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California lawmakers finalize $321 billion budget amid housing and environmental debates

1 min read
Source: CalMatters
California lawmakers finalize $321 billion budget amid housing and environmental debates
Photo: CalMatters
TL;DR

The California budget deal for 2025-26 masks a significant structural deficit caused by years of overspending and accounting tricks, with officials blaming external factors like federal tariffs, while actually relying on payment deferrals, loans, and reserves to cover ongoing fiscal shortfalls, raising concerns about long-term fiscal health and transparency.

Topics:nationpolitics#budget-gimmicks#california-budget#fiscal-policy#gavin-newsom#politics#structural-deficit
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  1. California budget deal cooks the books again to hide big ‘structural’ deficit  CalMatters
  2. California Democrats wage internal war over Gavin Newsom's late push to build more housing  Politico
  3. California budget approval comes with a catch: housing, labor, environmental overhaul  KCRA
  4. California lawmakers close to reaching budget deal but Governor Gavin Newsom indicates he isn't satisfied  abc7.com
  5. Newsom, Democrats reach $321-billion California budget deal  Los Angeles Times

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