October 11, 2026
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Tag: $54.3 billion deficit gap

Miguel Santiago

Assembly Bill To Raise Taxes For Higher Income Earners Faces Tough Legislative Votes

August 3, 2020   1:01 pmAugust 4, 2020   8:09 pm
On Monday, a recently amended bill that would increase taxes on small businesses and taxpayers making over $1 million of taxable income a year began it’s month-long fight to be passed and approved by the end of the legislative session...
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Assembly Approves 2020-2021 State Budget of $202.1 billion

June 26, 2020   9:15 pm
On Friday, the California State Assembly approved the $202.1 billion 2020-2021 state budget 57-16, one day after being approved by the Senate. Final approval in Sacramento The budget, which had to bridge a $54.3 billion deficit gap, will include many...
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Gavin Newsom

Governor Newsom Declares State Budget Emergency to Use Rainy Day Funds

June 26, 2020   2:05 amJune 25, 2020   8:13 pm
On Thursday, Governor Gavin Newsom declared a state budget emergency to use emergency “rainy day” funds for the 2020-2021 budget and to help bridge the $54.3 billion deficit gap. The rainy day funds were opened up to help pay for...
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