California needs $85 billion for public employees' retirement health care. Gov. Newsom's new labor deals pause spending to ...

Gov. Gavin Newsom signed a budget that pares back a number of progressive priorities, including a landmark health care ...

The state has adopted the same hide-the-pea approach to budgeting that the federal government employs, one that has resulted ...

President Donald Trump’s One Big Beautiful Bill Act, now working its way through Congress, permanently extends tax cuts ...

After a monthslong process, California's budget nears the finish line, which contains a $321.1 billion spending plan, according to state documents. The budget comes amid what lawmakers say as "massive ...

CALIFORNIA, USA — It appears state lawmakers and Governor Gavin Newsom have reached a new state budget deal after months of ...

Walters: California’s deficit dilemma — cut spending, borrow money or raise taxes? Democrats, who control state finances, can either bite the budget bullet or kick the can down the road ...

With tariffs wreaking havoc on California’s economy and health costs rising, the state is facing a deficit that could exceed $10 billion next year.

(Reuters) -The U.S. government posted a $258 billion budget surplus for April, up 23%, or about $49 billion, from a year earlier, reflecting strong tax receipts in the final month of the tax ...

When Gov. Gavin Newsom two months ago proposed a $322 billion state budget for the 2025-26 fiscal year, he projected what was depicted as a “modest surplus” of $363 million.

The California Budget & Policy Center, a nonpartisan research and analysis nonprofit group, praised the state’s additional tax revenue though slammed the lack of added investment in the state.

The state has a budget surplus when the difference is positive and a deficit when it's negative. That number is usually a big number, but small relative to the overall budget.