California Budget 2024 Deficit 2024. Last month, california’s legislative analyst’s office, or lao, which is the nonpartisan state department that advises california’s policymakers on the state’s fiscal. (ap) — california lawmakers approved a budget on wednesday that slashes spending and temporarily raises taxes on some businesses to close.
Changes to the governor’s proposed budget based upon the latest economic forecasts. Largely as a result of a severe revenue decline in 2022‑23, the state faces a serious budget deficit.
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