California Legislature Approves $17 Billion in Budget Measures

The measures aim to mitigate the state's projected $73 billion deficit, focusing on delayed spending and accounting adjustments without major tax increases.

• California lawmakers have approved $17 billion in budgetary measures to address a significant deficit, projected to be as high as $73 billion.
• The approved measures largely avoid new taxes and instead focus on delaying spending and utilizing accounting tricks to reduce the apparent shortfall.
• Despite these efforts, critics argue that these measures are temporary fixes and do not address the underlying issues of the state's financial instability.
• The measures include pulling back unspent funds, delaying expenditures, and shifting funds between accounts to make the deficit appear smaller.
• Governor Gavin Newsom and legislative leaders describe the steps as necessary to manage the state's finances responsibly, while planning for more challenging decisions ahead.

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