In response to the devastating economic impacts of COVID-19 on the state’s budget, to the tune of a projected $54 billion shortfall, Gov. Gavin Newsom is proposing a multiyear recovery approach that significantly draws down nearly all available reserves while delivering a balanced budget.
The May Revision budget proposal is scaled down to $203 billion from the $222.2 billion proposed in January, as the state faces its first deficit in eight years. The Governor’s focus is on the protection of California’s core values: public education, public health, public safety, and people hit hardest by COVID-19. These core values have been at the heart of local leaders’ efforts on the front lines, protecting communities and delivering services throughout the pandemic.
