California Implements $17 Billion Budget Cut Plan

Governor Newsom and legislative leaders agree on measures to address the state's budget deficit, including spending cuts and revenue adjustments.

California's leadership reaches a consensus on a $17 billion plan to reduce the state's budget deficit.
The plan includes $3.6 billion in cuts to various programs, with significant delays and deferrals in spending.
New revenue measures and borrowing are part of the strategy to address the financial shortfall.
Efforts to protect major spending commitments, such as free health insurance for low-income adults, remain intact.
The agreement comes amid warnings of a potential budget deficit that could exceed $70 billion.