Big cuts, no new taxes: Gov. Newsom’s plan to fix California’s budget deficit

Get the news that matters to all Californians. Start every week informed.Gov. Gavin Newsom addresses the media during a press conference unveiling his revised 2024-25 budget proposal at the Capitol Annex Swing Space in Sacramento on May 10, 2024. Photo by Fred Greaves for CalMattersGavin Newsom proposes a mix of spending cuts and using reserves to balance the state budget. He says that core services will be largely untouched, but some existing programs would be affected.

“We are encouraged that the Governor’s May Revision improves budget prospects for future years and saves rainy-day reserves,” Assembly Speakerof Encino, said in a joint statement, but they added they “will continue to fight to protect core programs for California’s most vulnerable residents and essential classroom funding.”of San Francisco, in a joint statement, said their past budgets “have uplifted communities and Californians — this year will be no different.

The governor proposed an overall reduction of nearly 8% to state operations, which he estimated would save $2.2 billion in 2024-25 and more in the years ahead, though exactly how government agencies would absorb those cuts is still to be determined. Newsom is pushing to eliminate 10,000 vacant state government positions on top of that, which could save $763 million annually.

“I just think that’s foundational,” Newsom said. “It’s something I believe in. It’s a core of, I think, who we are as a state.”

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