SACRAMENTO, Calif. — Gov. Gavin Newsom wants to take more than $12 billion from the state's savings accounts and other sources to increase spending this year. That's despite the state having about $100 billion in new money to spend.
The independent Legislative Analyst's Office criticized the proposal, calling it shortsighted and inadvisable. They say the state needs to hold onto that money for a future budget crisis. Department of Finance spokesman H.D. Palmer said the governor's proposal strikes a proper balance.
Assembly Budget Committee Chair Phil Ting said he hasn't finished reviewing Newsom's proposal. But in general, he said it aligns with the Legislature's thinking.
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Following a week-long tour across California talking about his recovery package tackling the challenges facing the state, Governor Gavin Newsom is submitting his $100 billion California Comeback Plan to the Legislature in Sacramento.