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California Lawmakers Propose Significant Budget Cuts to Tackle Growing Deficit

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.

READ ALSO: Pennsylvania Low-Income Families Face Utility Shutoff Due To Unresolved Federal Budget Dispute On LIHEAP Program

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.

READ ALSO: Georgia Bill Aims To Incentivize Gun Training And Safe Firearm Storage With Tax Credit Proposal

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