California’s Budget Deficit is $45 Billion. What's Newsom's Plan to Fix It?

KQED's Forum

KQED

News, Politics, News Commentary

4.2 • 726 Ratings

🗓️ 16 May 2024

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

Gov. Gavin Newsom last week proposed a series of deep cuts to close the state’s $45 billion budget deficit. The proposals, which include no new taxes, include a nearly 8% cut to state operations and the elimination of 10,000 unfilled jobs and will affect some education, public health and affordable housing programs. The governor’s office says that the proposal “maintains service levels for key housing, food, health care, and other assistance programs.” We look at the Governor’s May revise and the fiscal health of our state. Guests: Guy Marzorati, correspondent, KQED's California Politics and Government Desk Michelle Gibbons, executive director, County Health Executives Association of California Lindsey Holden, legislative reporter, The Sacramento Bee Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:58.0	From KQED in San Francisco, I'm Marisa Lagos and Formina Kim.
1:19.3	Coming up on Forum, California is facing an estimated budget deficit of $45 billion for the fiscal year starting July 1.
1:27.1	And last week, Governor Gavin Newsom unveiled his plan to close that gap by cutting $4. of $45 billion for the fiscal year starting July 1.
1:31.9	And last week, Governor Gavin Newsom unveiled his plan to close that gap by cutting funding for programs ranging from state subsidized public health and child care to funding for
1:36.4	education.
1:37.3	We talk with reporters covering the budget cuts and from advocates who oppose them about how we
1:41.9	got here and what closing the budget deficit could mean
1:45.2	for the millions of Californians who rely on state-funded programs. That's next right after this
1:50.5	news.
1:59.7	This is Forum. I'm Marisa Lagos and Fermina Kim. California's budget deficit has grown yet again. Back in January, state officials announced they were bracing for a nearly $38 billion shortfall. But just last week, Governor Newsom said that number had grown to just shy of $45 billion. That includes cuts made earlier this year. He also
2:20.2	announced a plan to fix it. That includes eliminating about 10,000 vacant jobs and cutting funding
2:25.2	to various state programs. And notably, Newsom's budget revision does not include raising taxes.
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