Governor Newsom: Revised Budget Plan in Sacramento

Governor Gavin Newsom today released his May Revision proposal for the 2025–26 state budget, putting forward a balanced plan that strengthens California’s future — despite economic disruptions caused by federal instability. While adjusting for a projected $11.95 billion shortfall driven by a “Trump Slump” — tariffs disruption, market volatility, and a decline in international tourism that have directly resulted in a staggering $16 billion estimated hit to the state’s revenues — and health care cost pressures, the Governor’s proposal remains focused on forward-looking investments in housing, education, and infrastructure, while curtailing unsustainable spending. Streamed 5-14-2025.