Washington Examiner
The California Legislative Analyst’s Office projected a dismal fiscal outlook for the Golden State as Gov. Gavin Newsom (D-CA) is anticipated to pour millions of dollars into fighting the Trump administration.
The non-partisan budget watchdog released an analysis this week showing that while the state has managed to reduce its budget deficit by a massive amount since last year, the deficit is estimated to climb back up to a staggering $20 billion by 2026.
“We anticipate the Legislature likely will need to address deficits in the future, for example by reducing spending or increasing taxes. In our view, this year’s budget does not have capacity for new commitments, ongoing ones,” the LAO’s report reads.
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