{"id":1801646,"date":"2023-01-10T20:34:42","date_gmt":"2023-01-11T01:34:42","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1801646"},"modified":"2023-01-10T20:35:11","modified_gmt":"2023-01-11T01:35:11","slug":"california-gov-newsom-proposes-reducing-climate-change-funding-amid-22-billion-state-budget-deficit","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-gov-newsom-proposes-reducing-climate-change-funding-amid-22-billion-state-budget-deficit\/","title":{"rendered":"California Gov. Newsom Proposes Reducing Climate Change Funding Amid $22 Billion State Budget Deficit"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcalifornia-gov-newsom-proposes-reducing-climate-change-funding-amid-22-billion-state-budget-deficit%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1801646&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p>California Governor <a href=\"https:\/\/www.dailywire.com\/topic\/gavin-newsom\" target=\"_blank\" rel=\"noopener\">Gavin Newsom<\/a> Tuesday&#8217;s announcement by the governor of Texas was that he will reduce billions in investments originally slated for climate change programs, and defer other funding for major programs. This is all amid a $22.5 billion deficit in the state budget.<\/p>\n<p>Newsom unveiled the state\u2019s $297 billion budget plan for the fiscal year 2023-24, in which the Democrat governor reportedly said he carefully preserved California\u2019s reserves, cautioning against a nationwide recession.<\/p>\n<p>\u201cThat makes us very mindful of the uncertainty of this next calendar year \u2014 and as a consequence of that \u2014 we\u2019re not touching the reserves because we have a wait-and-see approach to this budget,\u201d According to Newsom, <a href=\"https:\/\/www.latimes.com\/california\/story\/2023-01-10\/newsom-budget-deficit-california\" target=\"_blank\" rel=\"noopener\">The Los Angeles Times<\/a>.<\/p>\n<p>Budget cuts include a reduction of $6 billion from programs that are designed to increase zero-emission vehicles and replace greenhouse gases vehicles like delivery trucks, planes, trains, and other vehicles. <a href=\"https:\/\/www.kcra.com\/article\/california-governor-gavin-newsom-budget-january-10\/42445270\" target=\"_blank\" rel=\"noopener\">reported<\/a>.<\/p>\n<p>Politico <a href=\"https:\/\/www.politico.com\/news\/2023\/01\/10\/newsom-spending-cuts-california-budget-deficit-00077227\" target=\"_blank\" rel=\"noopener\">Not noted<\/a> The governor also proposed delaying spending billions on public universities and transit, behavioral healthcare, building decarbonization and watersheds.<\/p>\n<p>KCRA was informed by the California Republican Party that Newsom failed to address issues such as homelessness and wildfires, despite spending record amounts.<\/p>\n<p>\u201cNow with a massive budget shortfall projected, it\u2019s time for Gavin Newsom to finally get serious about smarter spending to resolve the many issues that are plaguing our state and driving long-time residents away,\u201d Jessica Millan Patterson, party chairwoman, stated in a statement.<\/p>\n<p>The Los Angeles Times reported that Newsom and his administration blamed the drop in the state\u2019s revenue on high inflation, an unpredictable stock market, and interest rate increases sparked by the Federal Reserve.<\/p>\n<p>However, the governor stated that he was confident that California would be in a better position. \u201cthan most other states to weather what\u2019s to come, to weather a recession.\u201d<\/p>\n<p>California&#8217;s deficit projection was based on a budget surplus over the past few years.<\/p>\n<p>The Legislative Analyst\u2019s Office published a <a href=\"https:\/\/www.dailywire.com\/news\/california-faces-25-billion-deficit-after-years-of-surplus\" target=\"_blank\" rel=\"noopener\">Report<\/a> The projected deficit of $25 billion, which was primarily due to the recession, was highlighted towards the end last year. \u201clower revenue estimates.\u201d<\/p>\n<p>Fox News <a href=\"https:\/\/www.foxbusiness.com\/politics\/california-facing-24b-budget-shortfall-economic-uncertainty\" target=\"_blank\" rel=\"noopener\">reported<\/a>\u00a0Analyst officials stated that the state will face a projected deficit due to lower taxes revenues of $41 billion than expected.<\/p>\n<p>\u201cSpurred by pandemic-related federal stimulus, the U.S. economy entered a period of rapid expansion in the summer of 2020 that extended through 2021,\u201d The LAO wrote. \u201cOver the last year, however, evidence has mounted that this rapid economic expansion was unsustainable.\u201d<\/p>\n<p>The state\u2019s last budget was $308 billion with a $97 billion surplus; the year before that, the budget was $263 billion with a $76 billion surplus. The state currently holds $35.6 billion in reserve.<\/p>\n<p>Officials noted that if the state\u2019s reserves aren\u2019t enough to solve the deficit, the legislature will need to cut spending, boost revenues, and possibly move costs around, adding that the challenging economic environment is harming revenues.<\/p>\n<p>The office stated that their revenue estimates were not accurate. \u201crepresent the weakest performance the state has experienced since the Great Recession.\u201d<\/p>\n<p>\u201cIt\u2019s not insignificant, but it\u2019s also manageable,\u201d Legislative Analyst Gabriel Petek said. \u201cWe don\u2019t think of this as a budget crisis.\u201d<\/p>\n<p>Newsom\u2019s administration reportedly said the deficit was \u201crealistic and reasonable.\u201d<\/p>\n<p><em>Charlotte Pence Bond contributed to the report.<\/p>\n<p><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>California Governor Gavin Newsom announced Tuesday that he plans to reduce billions of dollars in investments initially slated for climate change programs and delay other funding for major programs amid a $22.5 billion state budget deficit. Newsom unveiled the state\u2019s $297 billion budget plan for the fiscal year 2023-24, in which the Democrat governor reportedly &#8230;<\/p>\n","protected":false},"author":429,"featured_media":1801649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[10762,4463,4045,5103,4321,6202,9647,6513,8338,3678,5392,14332,6195],"class_list":["post-1801646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-10762","tag-budget","tag-california","tag-change","tag-climate","tag-daily","tag-deficit","tag-funding","tag-gov","tag-newsom","tag-proposes","tag-reducing","tag-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1801646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/429"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1801646"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1801646\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1801649"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1801646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1801646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1801646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}