Newsom announces $12B deficit in revised California budget proposal
California Gov. Gavin Newsom (D) announced a $12 billion deficit Wednesday in the May revision of his state budget proposal, casting blame on the Trump administration for creating an unpredictable economic environment. The governor spent more than an hour outlining his $321.9 billion state spending proposal for the 2025-26 fiscal year, which includes an $11.9 billion shortfall,…
