Governor Gavin Newsom has proposed solving a record budget deficit by tapping reserves, borrowing money from special funds, deferring spending and raising some targeted revenues.
But the major budget solution to an estimated $54.5 billion deficit depends on spending federal funds already allocated to California and receiving federal funds not yet approved by Congress. Without the new federal funding, the budget would automatically trigger $14 billion in new spending cuts, beginning July 1. Read More
Corona Chamber member Curt Pringle & Associates has summarized the expansive documents with a focus on the following:
- Small Business Recovery