Governor of California Gavin Newsom officially signed the 2024 budget on Saturday, closing a roughly $47 billion deficit for the state.
Newsom’s signature was expected when he and Democratic lawmakers agreed to a spending plan last week. The California Legislature approved most of the bills that make up the budget on Wednesday night.
The $298 billion spending plan includes many Democratic priorities, such as funding for homelessness subsidies, in-home supportive services for undocumented immigrants and affordable housing programs. It also cuts reserves, cuts state operations by nearly 8 percent, delays a new minimum wage law for health care workers and cuts spending by $750 million for the California Department of Corrections and Rehabilitation.
“This is a responsible budget that prepares for the future while investing in foundational programs that benefit millions of Californians every day,” Newsom said in a written statement Saturday.
Last week’s agreement between legislative leaders and Newsom follows a disagreement over spending priorities. The governor and both leaders of the Legislature — House Speaker Robert Rivas, D-Hollister, and Senate President Pro Tem Mike McGuire, D-Healdsburg — had been divided on some issues. The expected deficit had made negotiations even more challenging.
The budget will include expenditures for the 2024-25 fiscal year. The budget will begin on Monday.
