California May Revised Budget 2024. Faced with ongoing weaknesses in state finances, gov. In this brief, we provide a summary of and comments on the governor’s revised budget,.

The budget deficit in the 2023/24 financial year amounted to 4.5% of gdp, the lowest since the start of the pandemic and well below the 10.3% in labour’s last full. Gavin newsom on friday unveiled his revised $288 billion budget proposal with a $28 billion deficit that will require tough budget cuts — including.