California Legislative Analyst Projects Deficit Through 2024
SACRAMENTO, Calif. (AP) — California's nonpartisan legislative analyst says the state can expect budget deficits through at least 2024 because of the coronavirus pandemic.
Legislative Analyst Gabriel Petek released an analysis on Friday showing the deficits could total up to $126 billion combined depending on the severity of the recession.
Petek says the deficit for the upcoming budget year could be as high as $31 billion. Gov. Gavin Newsom's administration is projecting a deficit of $54.3 billion in the upcoming budget year.
The numbers are different because the governor's projection is based on his January budget proposal. The Legislative Analyst's Office estimate is based on the current budget.
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