Governor 2025 Budget Rec Pdf On wednesday, may 14, governor newsom presented a summary of the may revision of his 2025 26 california state budget proposal. the may revision shows an estimated shortfall of $12 billion. The newsom administration projects the governor’s may revision proposals close what otherwise would be an approximately $7.5 billion deficit in the state’s basic general fund reserve, the special fund for economic uncertainties (sfeu), at the end of 2025 26.
Governor S May Revision 2025 The so called “may revise” budget proposal that the governor submitted last week makes numerous changes to the initial proposal the governor announced in january, reflecting the rapidly evolving environment in which the state must adopt its budget plan for the upcoming fiscal year. On may 14, gov. gavin newsom released his proposed may revise to the 2025–26 state budget. despite higher than estimated state revenues over the past several months, the may revise offered a somber view of the state budget in light of significant developments at the federal level. On wednesday, may 14, 2025, governor gavin newsom released the may revision, which updates the 2025 2026 state budget proposal with the latest economic forecasts and tax revenue information. In this section, we detail changes to proposals included in the governor's budget (and described in our january analysis) and describe new proposals presented as part of the may revision.
Governor Delivers State Fiscal Year 2025 Budget On wednesday, may 14, 2025, governor gavin newsom released the may revision, which updates the 2025 2026 state budget proposal with the latest economic forecasts and tax revenue information. In this section, we detail changes to proposals included in the governor's budget (and described in our january analysis) and describe new proposals presented as part of the may revision. On wednesday, governor gavin newsom unveiled his 2025–26 may revision, a revised $321.9 billion proposal aimed at closing a $12 billion deficit, driven in part by delayed tax filings following natural disasters, higher than anticipated costs for state programs and broader economic pressures. This annual proposed revised budget is referred to as the may revision. in this brief, we provide a summary of and comments on the governor’s revised budget, focusing on governor’s proposals for and the overall condition of the state general fund—the budget’s main operating account. Today, the governor released his may revision budget update for fy 2024 25, which includes $288.1 billion in total spending (including $201 billion general fund). the may revision modifies the governor’s january budget proposal using updated revenue projections based on income tax receipts. In his revision, the governor proposed that the state cut $767 million from the state’s payroll expenses in salaries and wages, meaning the majority of state workers could see a little less pay coming in.
Governor S May Revision To The 2025 26 Budget Socccd On wednesday, governor gavin newsom unveiled his 2025–26 may revision, a revised $321.9 billion proposal aimed at closing a $12 billion deficit, driven in part by delayed tax filings following natural disasters, higher than anticipated costs for state programs and broader economic pressures. This annual proposed revised budget is referred to as the may revision. in this brief, we provide a summary of and comments on the governor’s revised budget, focusing on governor’s proposals for and the overall condition of the state general fund—the budget’s main operating account. Today, the governor released his may revision budget update for fy 2024 25, which includes $288.1 billion in total spending (including $201 billion general fund). the may revision modifies the governor’s january budget proposal using updated revenue projections based on income tax receipts. In his revision, the governor proposed that the state cut $767 million from the state’s payroll expenses in salaries and wages, meaning the majority of state workers could see a little less pay coming in.
Governor S 2025 May Revision Quick Summary Republican Caucus Today, the governor released his may revision budget update for fy 2024 25, which includes $288.1 billion in total spending (including $201 billion general fund). the may revision modifies the governor’s january budget proposal using updated revenue projections based on income tax receipts. In his revision, the governor proposed that the state cut $767 million from the state’s payroll expenses in salaries and wages, meaning the majority of state workers could see a little less pay coming in.
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