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California's Final Budget Under Newsom: Challenges and Opportunities

1 min read
Source: CalMatters
California's Final Budget Under Newsom: Challenges and Opportunities
Photo: CalMatters
TL;DR

California's governor Gavin Newsom projects a $9 billion revenue increase for 2026-27, relying on the AI-driven economy, while forecasting a modest $2.9 billion shortfall for the upcoming year, with concerns about the sustainability of the AI boom and long-term fiscal challenges including reduced housing and homelessness funding.

Topics:nationstate-budget#ai-economy#budget-forecast#california#fiscal-shortfall#public-spending#state-budget
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  1. Gov. Newsom’s last state budget: Here’s what we know  CalMatters
  2. Governor Gavin Newsom faces another multibillion-dollar budget shortfall in his last year as California governor  ABC7 Los Angeles
  3. California faces $3B deficit in Gavin Newsom’s final state budget  San Francisco Chronicle
  4. Newsom’s budget plan banks on strong revenues despite fiscal risks  Los Angeles Times
  5. California’s Newsom Looks to Increase Budget by $11 Billion  Bloomberg.com

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