Big cuts, no new taxes: Gov. Newsom unveils his plan to mend California’s budget deficit

FACED WITH ONGOING weaknesses in state finances, Gov. Gavin Newsom has put forward a revised budget plan that he said aims to stabilize California in the longer term by addressing a “sizable deficit” estimated at $56 billion over the next two fiscal years.

Looking beyond the typical annual budget cycle, Newsom proposed more than $30 billion in ongoing and one-time spending cuts, including to education and climate objectives that have been among the governor’s own priorities, though he promised that “core programs” providing social services to needy Californians would be mostly untouched.