https://www.siliconvalley.com/2024/06/23/what-you-need-to-know-about-the-california-budget-deal/ > California will make widespread cuts to state government operations, prisons, housing programs and health care workforce development in order to maintain its social safety net as it moves to close a multibillion-dollar budget deficit. > The $297.9 billion spending plan, announced this morning by Gov. Gavin Newsom, Senate President Pro Tem Mike McGuire and Assembly Speaker Robert Rivas, also relies on reserves and pauses some business tax credits to address a remaining revenue gap estimated at $56 billion over the next two years.