Commentary: Gov. Gavin Newsom and legislative leaders are flying blind as they attempt to fashion a new state budget for the fiscal year that begins July 1. 📝: DanCALmatters
In summary
As California Gov. Gavin Newsom and legislative leaders work on a new state budget, they face a multibillion-dollar deficit, but don’t really know how big it will become. Gov. Gavin Newsom and legislative leaders are flying blind as they attempt to fashion a new state budget for the fiscal year that begins July 1.
They know the state faces a multi-billion-dollar deficit that the budget will attempt to close – at least on paper – but they really don’t know how big it could be because they don’t really know how much revenue the state’s tax system will generate., but the unprecedented six-month delay in the deadline for filing federal and state income tax returns creates even more uncertainty about how much money politicians have to spend.
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