3a: Overview of Governor Newsom’s Fiscal Year 2024-25 State …

Summary: California’s fiscal year (FY) 2025-26 budget negotiations will kick into high gear this month with the anticipated January 10 release of Governor Newsom's budget request. (As of …

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Governor S January Proposal For The 2024-25 Budget: Initial …

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The school district reserve cap of 10% is in effect in 2024-25. TK-12 Education: No steep cuts are proposed, and the January proposal includes measures that would maintain flat funding levels …

cft.org

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Legislative Update: Newsom’s Proposed State Budget ‘24-25

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January 11, 2024. Governor Newsom presented his initial 2024-25 budget proposal yesterday, with less dire projections than had been anticipated. The $291 billion budget proposal is about …

cft.org

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Analysis Of Governor Newsom’s 2024-2025 January Budget Proposal

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Jan 12, 2024 · On January 10, Governor Newsom released his January proposal for the 2024-25 California state budget. The Governor’s $291 billion state spending plan estimates a $37.9 …

wclp.org

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California Budget: Legislature’s Analyst Reviews Newsom Plan

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Jan 16, 2024 · Its initial review of Newsom’s January budget proposal, released Saturday, puts the state’s budget shortfall at $58 billion for the 2024-25 fiscal year — much deeper than the …

calmatters.org

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What's In Gavin Newsom's $323 Billion California Budget Plan?

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5 days ago · But Newsom’s also sticking to last year’s deal with the Legislature to pull $7.1 billion from the state’s main reserve account — even though his office projected on Monday that …

calmatters.org

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California Budget Deficit: Newsom Proposes Spending Cuts

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May 10, 2024 · Here are some key numbers from Newsom’s revised budget for the 2024-25 fiscal year, which begins July 1:-7.3%. With tax revenues coming in below expectations — about $7 …

calmatters.org

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Understanding The Governor’s 2025-26 State Budget Proposal

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Compared to the 2024-25 enacted budget from June of last year, this update shows a growth of $3.9 billion. However, the governor is proposing to fund the guarantee at a lower level: $117.6 …

calbudgetcenter.org

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Governor Newsom’s May Revision To The California 2024-2025 …

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May 29, 2024 · The Governor’s May revision proposes additional solutions to address the remaining $27.6 billion shortfall, including using $12.2 billion from the Budget Stabilization …

sourceonhealthcare.org

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HIGHLIGHTS OF GOVERNOR'S PROPOSED 2025-2026 BUDGET

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As required by the State Constitution, Governor Newsom submitted his proposed 2025- ... $1.2 billion in total and required one-time contributions in the 2024-25 fiscal year, and $376 million …

ca.gov

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State Of New Jersey

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Governor Murphy’s budget a third year of ANCHOR, the largestfunds property tax relief initiative in State history. In FY2025, the Administration expects to provide more than $3.5 billion in …

nj.gov

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After 2 Years Of Shortfalls, California Governor Proposes $322B …

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Jan 6, 2025 · Rich Pedroncelli. California Gov. Gavin Newsom outlines his proposed 2025-2026 $322 billion state budget during a news conference at California State University, Stanislaus in …

usnews.com

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Gov. Gavin Newsom Proposes $322B Budget For California With No …

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Jan 6, 2025 · California's economy is the fifth largest in the world. Last year the state faced an estimated $46.8 billion budget deficit and in the year before, a $32 billion budget shortfall.

cbsnews.com

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State Budget Proposal Optimistic, But Financial Future Murky

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4 days ago · In reality, the state’s financial future is murkier. Newsom’s proposal for the 2025-2026 budget, unveiled Friday, has plans to pull $7.1 billion from the state’s rainy day reserve …

montereyherald.com

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6 Takeaways From Gavin Newsom’s Proposed 2025-26 Budget

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2 days ago · Newsom’s proposed budget calls for more than doubling the California Film and Television Tax Credit, from $330 million to $750 million for fiscal years 2025-26 through 2029-30.

sacbee.com

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California's Governor Just Released His First Budget Plan For 2025 …

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5 days ago · In reality, the state’s financial future is murkier. Newsom’s proposal for the 2025-2026 budget, unveiled Friday, has plans to pull $7.1 billion from the state’s rainy day reserve …

ocregister.com

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Newsom Wants To Give California Families Three-month Diaper Supply

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1 day ago · A proposal from Gov. Gavin Newsom would set aside up to $7.4 million in this year’s budget and $12.5 million the following year to provide a three-month supply of diapers to …

sfchronicle.com

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Justin McMahon - Principal - Challenge Accepted - LinkedIn

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Governor Newsom released his revised #California #budget proposal in May to address a projected $45 billion #deficit over two years. This includes the $27.6 billion deficit for the 2024 …

linkedin.com

FAQs about 3a: Overview of Governor Newsom’s Fiscal Year 2024-25 State … Coupon?

What is Newsom's budget plan?

The governor’s budget proposal relies on dipping into state reserve accounts, including $12.2 billion from the rainy-day fund and $900 million from a safety net reserve, spread out over two years. Separately, Newsom wants to use $8.4 billion from a schools reserve account next year to stabilize funding for K-12 education that would otherwise drop. ...

Could a new state budget save $763 million a year?

Newsom is pushing to eliminate 10,000 vacant state government positions on top of that, which could save $763 million annually. 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. ...

How will the Governor close the budget gap?

The governor proposes to close the budget gap through the use of reserves, delays or deferrals of spending authorized in earlier years, and spending cuts. ...

How can Newsom solve California's deficit?

A large part of how Newsom wants to solve California’s deficit involves clawing back $19.1 billion in unspent funding that was promised just a few years ago, during brighter days when the state had a record surplus. ...

How does Murphy's FY2025 budget address the upcoming fiscal cliff?

tructureNJ TRANSITGovernor Murphy’s FY2025 budget addresses the upcoming fiscal cliff at NJ TRANSIT by providing for a new, dedicated, and permanent funding stream to ensure that New Jersey’s commuters and tourists can get wh ...

What is New Jersey's economic forecast for 2024?

the New Jersey SUT. Accordingly, the revised FY2024 forecast of about $13.2 billion is $113.7 million less than the certified amount from the Appropriations Act, but still assumes owth over FY2023. Major economic forecasting firms generally expect the economy to grow slowly in 2024 and 2025, with modest or low growth in wages, employmen ...