California Senate Democrats Propose Plan to Address Massive Budget Deficit
Senate Democrats Propose Plan to Address California’s Massive Budget Deficit
Democratic lawmakers in California are facing a huge budget deficit which some say could be as high as $73 billion. Senate Democrats have put forward a plan to tackle this deficit, led by Senate President pro Tem Mike McGuire and Senate Budget and Fiscal Review Committee Chair Scott Wiener. Their plan involves cutting $17 billion from programs and using money from the Rainy Day Fund, which is a fund saved for emergencies.
This plan aims to bring the deficit down to a more manageable $9 billion to $24 billion, giving lawmakers time to figure out how to close the remaining gap. McGuire emphasized that their plan protects important programs without raising taxes for Californians. Governor Gavin Newsom has shown support for this approach saying that big solutions are needed to address the deficit.
California Lawmakers Propose Significant Budget Cuts to Tackle Growing Deficit (PHOTO: ABC10)
Assembly Budget Chair Advocates for Delayed Action on California’s Budget Deficit
On the Assembly side, Assembly Budget Committee Chair Jesse Gabriel agrees that action needs to be taken but suggests doing more work in June when lawmakers have more options available. He also supports Newsom’s proposal to use some of the states reserves. With both Senate and Assembly considering different approaches the state is facing a crucial decision in managing its finances amidst a significant deficit.
