Go Woke, Go Broke: California Headed Toward $25 Billion Deficit

OAKLAND, CALIFORNIA - FEBRUARY 09: California Gov. Gavin Newsom speaks during a bill signing ceremony at Nido's Backyard Mexican Restaurant on February 09, 2022 in San Francisco, California. California Gov. Gavin Newsom signedlegislation to extend COVID-19 supplemental paid sick leave for workers. (Photo by Justin Sullivan/Getty Images)

At a glance

  • The state of California is facing a $25 billion deficit next fiscal year as tax revenues decline, the Legislature’s fiscal analysts project.
  • The nonpartisan California Legislative Analyst Office estimates the state could see deficits between $8 billion to $17 billion during the next four fiscal years.
  • “We must refocus on fiscal responsibility,” said Assembly Budget Vice Chair Vince Fong, R-Bakersfield.

Top News Stories