California’s Deficit is Nearly $32 Billion. How Will the State’s Budget Address It?

KQED's Forum

KQED

Politics, News, News Commentary

4.6 • 656 Ratings

🗓️ 15 May 2023

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Governor Newsom released on Friday his May revision of the state budget, which shows a $31.5 billion deficit, nearly $10 billion higher than forecast in January. Newsom has declined to raise taxes or meaningfully dip into rainy day funds to address the deficit, opting instead to limit funding increases for transportation, climate and social service programs. At the same time, the revised budget would increase funding for flood protection, especially in the Central Valley and Tulare Lake basin ahead of the ‘Big Melt.’ We’ll talk about how it all might play out in the legislature before the budget approval deadline of June 15. Guests: Jeremy White, covers California politics, Politico Chris Hoene, executive director, California Budget & Policy Center Julie Rentner, president, River Partners - a nonprofit based in Chico, CA, that works to restore healthy watersheds and create wildlife habitat in the Central Valley and Southern California Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Support for Forum comes from Rancho LaPuerta, a health resort with 85 years of wellness experience, providing summer vacations centered on well-being. Special rates on three-and-four-night August vacations include sunrise hikes, water classes, yoga, and spa therapies, all set in a backdrop of a dreamy summer sky. A six-acre organic garden provides fresh fruits and
0:22.7	vegetables daily. Learn more at Ranchoer Tuerta.com. Support for forum comes from Broadway
0:28.3	S.F, presenting Parade, the musical revival based on a true story. From three-time Tony-winning
0:35.1	composer Jason Robert Brown comes the story of Leo and Lucille Frank,
0:40.3	a newlywed Jewish couple struggling to make a life in Georgia. When Leo is accused of an
0:46.0	unspeakable crime, it propels them into an unimaginable test of faith, humanity, justice, and devotion.
1:01.8	The riveting and gloriously hopeful parade plays the Orphium Theater for three weeks only, May 20th through June 8th.
1:06.1	Tickets on sale now at Broadway, sF.com.
1:08.7	From KQED.
1:29.3	From KQED in San Francisco, I'm Marisa Lagos and Formina Kim coming up on forum.
1:37.2	In an event that was widely anticipated amongst California political nerds, Governor Gavin Newsom announced on Friday his revised state budget proposal.
1:43.7	And after years of good economic times, including last year's projected $97 billion surplus, Newsom now has to grapple with a budget
1:46.1	deficit to the tune of nearly $32 billion. We'll talk about what the governor is proposing
1:51.1	in his budget to close the gap, what he wants the state to invest in, and how the politics
1:55.6	of it all may play out in the legislature. That's next after this news.
2:10.9	Thank you. out in the legislature. That's next after this news. This is Forum. I'm Marisa Lagos and for Mena Kim. California state budget deficit is
2:16.4	now $31.5 billion. That's what Governor Newsom announced
2:20.8	Friday as he unveiled his May budget revision. We're going to talk about the climate, transportation, and
2:26.5	social service programs that will see no new funding increases under the governor's proposal and the
2:32.2	ones that are getting a spending boost like flood
2:34.3	protection and how it all might play out in the legislature before the budget approval deadline of
2:39.1	June 15th. And we're going to talk to some experts here. But before we get to them, I want to
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from KQED, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of KQED and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.