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December 8, 2023

Analyst: California faces $68B deficit

SACRAMENTO, Calif. (AP) — California is facing a $68 billion budget deficit. The nonpartisan Legislative Analyst's Office said Thursday most of the deficit comes from lower than expected tax revenues this year.

California delayed its tax filing deadline to November this year because of a series of damaging storms. That forced Democratic Gov. Gavin Newsom to come up with a spending plan without knowing how much money the state would have.


 
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