WebMay 10, 2024 · SACRAMENTO, Calif. (AP) — Aided by an astonishing nearly $76 billion budget surplus, California Gov. Gavin Newsom on Monday proposed tax rebates of up to $1,100 for millions of households and more than $7 billion to help people affected by the pandemic cover rent and utilities. It was Newsom’s first in a weeklong roll out of … WebDec 6, 2024 · Now, the state’s Legislative Analyst’s Office predicts that California will have a $31 billion surplus for the budget year that begins July 1, 2024. Exactly how Newsom will avoid crossing the...
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WebWhen you deduct those funds from the $76 billion "surplus" used by Newsom, you get the $38 billion figure referenced by the LAO. In one of Newsom's previous budget proposals, unveiled in May 2024, he announced that the remaining "surplus" was $500 million higher than anticipated, but he also explicitly noted that the figure did not include the ... WebJan 12, 2024 · California is in position to spend a jaw-dropping surplus. Gov. Gavin Newsom has outlined his plans for the money, and the Legislature has ideas of its own. What are yours? California, once again, is projected to have an astronomical surplus — $97.5 billion in total, but $49 billion of that up for grabs. jerome scarpati
Why is the state of California bankrupt? - Quora
WebMay 11, 2024 · Over the course of the stimulus packages, California received $91.3 billion in funds from the federal government. If the state came out with a budget surplus close to what they had in 2024, which was $21 billion, the “surplus” that California currently enjoys isn’t really a surplus at all. WebNov 20, 2024 · The LAO report shows California has enough money to make it through an average economic recession and projects the surplus will grown to $18.3 billion by the end of the 2024 fiscal year. Ultimately the size of the surplus will depend on if President Trump decides to allow California to tax the groups managing the state's Medicaid plans. WebJan 11, 2024 · This week, we learned the two most populous states in the country are in very different fiscal places right now. In California, Gov. Gavin Newsom is looking for ways to patch a $23 billion... jerome scales jr