Newsom unveils deficit-free budget through 2028 with boosted investments in families, education, and health
Governor Newsom’s revised 2026-27 budget eliminates California’s projected deficit through July 2028, maintains nearly $30 billion in reserves, and funds extensive investments in child care, schools, higher education, healthcare affordability, housing, and disaster recovery, while pursuing fiscal restraint and depositing $9.7 billion into the Surplus Holding Account to guard against future volatility.