Construction of the annex at the state Capitol in Sacramento on April 29, 2024. Photo by Miguel Gutierrez Jr., CalMattersWith the June 15 deadline for the state budget approaching, the amount of tax revenues and the size of the budget deficit loom large for California Gov. Gavin Newsom and legislators.As the June 15 constitutional deadline for enacting a 2024-25 state budget approaches, the good news for Gov.
With the month’s revenue numbers now known, the next phase will be Newsom unveiling a revised budget later this month, setting the stage for several weeks of intensive – and secretive – negotiations between the governor and legislative leaders. The revised budget proposal, and the budget that emerges from negotiations, will be balanced on paper. That is, projected revenues and projected spending – $291.4 billion in the January budget – will be matched.
Budget stakeholders are jockeying for position on the priority list with private lobbying of legislators and public pronouncements of vital need.
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