{"id":2387347,"date":"2025-01-07T11:23:02","date_gmt":"2025-01-07T16:23:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/newsom-floats-322-billion-budget\/"},"modified":"2025-01-07T11:24:25","modified_gmt":"2025-01-07T16:24:25","slug":"newsom-floats-322-billion-budget","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/newsom-floats-322-billion-budget\/","title":{"rendered":"Newsom floats $322 billion budget"},"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\">10<\/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%2Fnewsom-floats-322-billion-budget%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=2387347&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--><p>California Governor Gavin\u2062 Newsom\u2062 has proposed a $322 billion budget aimed at eliminating the state&#8217;s \u2064deficit as he approaches the end of \u2063his gubernatorial term. This\u2063 budget, if approved, would\u200b mark the first time in two years that California is projected not to have \u2063a deficit. The \u200dproposal\u200b is\u200b part of \u200bNewsom&#8217;s\u2064 effort to\u200b enhance his legacy and provide a balanced budget \u200bfor the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-orders-l-a-to-offer-housing-to-homeless-population-on-skid-row-says-city-and-county-created-a-legacy-of-entrenched-structural-racism\/\" title=\"Judge Orders L.A. To Offer Housing To Homeless Population On Skid Row, Says City And County \u2018Created A Legacy Of Entrenched Structural Racism\u2019\">upcoming fiscal year<\/a>.\u2062 Governor Gavin Newsom&#8217;s proposed $322 billion\u2062 budget \u2063for\u2063 California aims to address the state&#8217;s financial challenges and \u2063eliminate a deficit that \u200chas persisted in recent years. If approved,this\u2062 budget would be a significant achievement,marking the \u200cfirst\u200c time in two \u2062years that\u200d california is projected \u2064to operate without a deficit. This proposal \u200breflects Newsom&#8217;s \u2064commitment to not only stabilize the state&#8217;s finances \u2063but also\u2064 to enhance his legacy as he nears the conclusion\u2063 of his gubernatorial term. The <a href=\"https:\/\/amzn.to\/3YuVZYV\">budget outlines strategic allocations<\/a> and reforms intended\u200c to foster economic\u200d growth,enhance public services,and maintain\u2063 fiscal responsibility for \u2062the upcoming fiscal year. As stakeholders review the proposal, \u200bit will be essential to consider its \u200bpotential impacts on various sectors, including\u200d education, healthcare, and infrastructure.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Newsom floats $322 billion budget that would pull California out of deficit<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1924204\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>Gov. <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/gavin-newsom\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Gavin Newsom<\/a> (D-CA) <a href=\"https:\/\/www.gov.ca.gov\/2025\/01\/06\/governor-newsom-continues-delivering-a-new-bold-economic-vision-for-california-previews-balanced-2025-26-state-budget\/\" target=\"_blank\" rel=\"noopener\" title=\"\">proposed<\/a> a $322 billion budget for California on Monday in an attempt to burnish his legacy as his time leading the state draws to a close.<\/p>\n<div class=\"article-paywall\">\n<p>If his budget is approved, it would be the first time in two years California is not expected to have a <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3056424\/newsom-spin-california-budget-disaster-bid-president-2028\/\" target=\"_blank\" rel=\"noopener\" title=\"\">deficit<\/a> in its state budget. Newsom attributed the 2025 plan to planning in the last budget that allowed the state to avoid a shortfall this year.<\/p>\n<p>&ldquo;Last year, we endeavored to make this year&rsquo;s budget a nonevent,&rdquo; he said. &ldquo;Last year, we endeavored to solve the problems this year and did something we haven&rsquo;t done in the past.&rdquo;<\/p>\n<p>His office estimates tax revenues for this year are $16.5 billion above projections. The governor&rsquo;s proposal included a $228.9 billion general fund that would rely on $17 billion in reserves.<\/p>\n<p>California has the fifth-largest economy in the world. Last year, the state faced an estimated $46.8 billion budget deficit, and in 2023, it faced a $32 billion budget deficit.<\/p>\n<p>&ldquo;We are America, but in the future tense, the future happens here first,&rdquo; Newsom said. &ldquo;We are America&rsquo;s coming attraction. California is the future, and we certainly are the future of the American economy, because we&rsquo;re the tentpole of the American economy.&rdquo;<\/p>\n<p>The governor said his budget has little new spending in its proposals, save for a few. One new item in the budget would allow California to implement in full the first universal transitional kindergarten program in the U.S., which would make such school free for around 400,000 4-year-olds throughout the state. The governor has advocated this plan since 2021.<\/p>\n<p>The budget plan also includes increasing California&rsquo;s <a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/state\/3205697\/newsom-proposes-750-million-hollywood-tax-credit-increase\/\" target=\"_blank\" rel=\"noopener\" title=\"\">film and TV tax credit<\/a> to $750 million, in hopes that it would entice filmmakers to move their operations back to Hollywood.<\/p>\n<p>The budget announced Monday, however, is viewed as somewhat of a placeholder as the state awaits announcements from President-elect Donald Trump on whether he plans to follow through on threats to revoke billions in federal dollars.<\/p>\n<p>The state&rsquo;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pro-trump-religious-groups-begin-turning-up-heat-on-gop-to-take-action-on-marjorie-taylor-greene\/\" title=\"Pro-Trump, Religious Groups Begin Turning Up Heat On GOP To Take Action On Marjorie Taylor Greene\">high-speed rail project<\/a>, which is planned to run between Los Angeles and San Francisco, has floundered for years and faces an increased risk under Trump of falling apart. In 2019, Trump canceled nearly $1 billion in federal funding, but President Joe Biden later reallocated federal funds for the project. Several Republican members of Congress have already bemoaned the project&rsquo;s high costs.<\/p>\n<p><a href=\"http:\/\/washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong><\/strong><\/a><\/p>\n<p>&ldquo;This is not just a transportation project,&rdquo; Newsom said at a construction site for the project Monday. &ldquo;This is a transformation project. To the cynics that are filled with cynicism, that stand on the sidelines and don&rsquo;t engage, we&rsquo;re here making this work.&rdquo;<\/p>\n<p>Newsom&rsquo;s administration plans to provide more details on the budget proposal before the Friday deadline to present it to lawmakers. Newsom announced the numbers early before traveling to Washington for former President Jimmy Carter&rsquo;s <a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/presidential\/3272788\/jimmy-carter-lie-in-state-capitol-funeral\/\" target=\"_blank\" rel=\"noopener\" title=\"\">funeral services<\/a>.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1924204\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1924204\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Newsom proposes $322 billion budget to eliminate California&#8217;s deficit<\/p>\n","protected":false},"author":2910,"featured_media":2387348,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/10\/Gavin_Newsom_California_yyr14.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[4463,4045,10680,3678],"class_list":["post-2387347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-budget","tag-california","tag-finance","tag-newsom"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/10\/Gavin_Newsom_California_yyr14.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2387347","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\/2910"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2387347"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2387347\/revisions"}],"predecessor-version":[{"id":2387351,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2387347\/revisions\/2387351"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2387348"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2387347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2387347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2387347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}