The California Legislative Analyst’s Office estimates the state will have a $26 billion revenue shortfall for the 2022-2023 fiscal year and announced the state entered into a recession in March of 2023.
The news comes the day after Governor Gavin Newsom defended Democrats’ economic record in a nationally televised debate. State Republicans blame Newsom and California Democrats for nearly doubling the state’s budget over the last six years and called for reductions in government programs to protect critical government functions from severe budget cuts.