{"id":192951,"date":"2025-07-01T16:41:20","date_gmt":"2025-07-01T23:41:20","guid":{"rendered":"https:\/\/new.thepinetree.net\/?p=192951"},"modified":"2025-07-01T16:41:20","modified_gmt":"2025-07-01T23:41:20","slug":"newsom-signs-321-billion-state-budget-using-savings-borrowing-delaying-payments","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=192951","title":{"rendered":"Newsom Signs $321 Billion State Budget, Using Savings, Borrowing &#038; Delaying Payments."},"content":{"rendered":"<p>Sacramento, CA&#8230;Amid what Newsom says is Donald Trump\u2019s economic assault on California, Governor Gavin Newsom signed the 2025 state budget bill advanced in partnership with Senate President pro Tempore Mike McGuire and Speaker Robert Rivas. Together, the Governor and Legislature are enacting a responsible, balanced spending plan that safeguards California\u2019s values while maintaining long-term fiscal health. This budget and forthcoming trailer bills include new, landmark policies that will accelerate housing production and boost affordability in communities across the state \u2014 addressing California\u2019s most urgent challenges.<\/p>\n<p><iframe loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/TbsNhNdUzsk\" title=\"Governor Newsom Signs Historic Bills to Create More Housing and Infrastructure\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>As we confront Donald Trump\u2019s economic sabotage, this budget agreement proves California won\u2019t just hold the line \u2014 we\u2019ll go even further. It\u2019s balanced, it maintains substantial reserves, and it\u2019s focused on supporting Californians \u2014 slashing red tape and catapulting housing and infrastructure development, preserving essential healthcare services, funds universal pre-K, and cuts taxes for veterans.<\/p>\n<p>Governor Gavin Newsom<\/p>\n<p>Pro Tem Mike McGuire says: \u201cThe State is delivering a responsible on-time budget in a challenging year focused on fiscal restraint and investing in the people and programs that make this State great. This budget prioritizes record funding for our kids and public schools, protects access to health care for millions of the most vulnerable, and will create more housing at a scale not seen in years. Thanks to this budget agreement, the state will help get more folks off the streets and into permanent shelter, and we\u2019ll expand the ranks of CalFire, deploying hundreds of additional full-time CalFire firefighters, which will save lives and make us all more wildfire safe. And this agreement helps prepare our state for the ongoing chaos and massive uncertainty caused by the Trump administration. Thank you to our Senate Budget Chair Scott Wiener, Speaker Rivas and Governor Newsom and their staffs for their hard work for the people of California.\u201d<\/p>\n<p>Speaker Robert Rivas says: \u201cThis is an incredibly difficult time for Californians. Trump is undermining our economy with reckless tariffs, harsh cuts, and ICE agents terrorizing our communities. At a moment when so many are already struggling, he\u2019s adding fear and instability. In contrast, Democrats have delivered a budget that protects California. It cuts red tape to build more housing faster \u2014 because housing is the foundation of affordability and opportunity. It preserves critical investments in health care, women\u2019s health, education, and public safety. And it honors our commitment not to raise taxes on families, workers, or small businesses. In unprecedented times, under painful circumstances, Democrats are delivering for Californians.\u201d<\/p>\n<p>Tax cuts for vets, smaller class sizes, free school meals<br \/>\nThe budget reflects a shared commitment to protect opportunity and improve affordability in California, in the face of targeted attacks by the Trump administration. The budget makes historic investments in public education \u2014 from universal transitional kindergarten and free school meals to expanded before and after-school programs, summer school, smaller class sizes, and strengthened career training and higher education. The budget demonstrates the state\u2019s commitment to honoring veterans by creating tax cuts for military retirees, recognizing their service and supporting their financial security. <\/p>\n<p>Lowering prescription drug costs, protecting reproductive care, and safety nets<br \/>\nThe budget preserves key health care programs for Californians targeted by Republicans. It preserves vital safety net programs, including in-home supportive services and women\u2019s reproductive health. As part of the budget, the Governor is also expected to sign legislation protecting access to health care, license and regulate Pharmacy Benefit Managers for the first time, increasing transparency and accountability in the pharmacy supply chain. The legislation also expands CalRx\u2019s authority to procure brand-name drugs and respond to politically motivated supply disruptions, helping shield access to critical medications like mifepristone.<\/p>\n<p>Lights, camera, JOBS<br \/>\nThe budget protects California\u2019s position as the 4th largest economy in the world \u2013 supporting business and continued economic growth, including California\u2019s iconic film industry. Next week, the Governor is expected to sign additional legislation as part of the expansion of the film and TV tax credit program \u2014 further catapulting the program\u2019s impact to $750 million a year.<\/p>\n<p>Trump\u2019s economic assault<br \/>\nThe balanced budget comes as California continues to confront significant fiscal pressures fueled by the Trump administration\u2019s reckless economic and immigration policies. According to the California Department of Finance, Trump\u2019s tariff regime is projected to cost the state an estimated $16 billion in lost General Fund revenue through the next fiscal year. And a new study released June 17 by the Bay Area Council Economic Institute, in collaboration with UC Merced, found that Trump\u2019s mass deportations could slash $275 billion from California\u2019s economy, eliminate $23 billion in annual tax revenue, and severely disrupt key industries such as agriculture, construction, and hospitality. <\/p>\n<p>In the face of these mounting challenges, the Governor issued a proclamation to access state reserves. This responsible and balanced budget protects Californians, creates more housing, preserves core programs, reinforces fiscal discipline, and invests in the state\u2019s long-term economic strength.<\/p>\n<p>The Governor today announced signing the following bills:<\/p>\n<p>AB 102 by Assemblymember Jesse Gabriel (D-Encino) \u2013 Budget Act of 2025.<br \/>\nAB 118 by the Committee on Budget \u2013 Human services.<br \/>\nAB 121 by the Committee on Budget \u2013 Education finance: education omnibus budget trailer bill.<br \/>\nAB 123 by the Committee on Budget \u2013 Higher education budget trailer bill.<br \/>\nAB 134 by the Committee on Budget \u2013 Public Safety.<br \/>\nAB 136 by the Committee on Budget \u2013 Courts.<br \/>\nAB 143 by the Committee on Budget \u2013 Developmental services.<br \/>\nSB 101 by the Senator Scott Wiener (D-San Francisco) \u2013 Budget Act of 2025.<br \/>\nSB 103 by the Senator Scott Wiener (D-San Francisco) \u2013 Budget Acts of 2022, 2023, and 2024.<br \/>\nSB 120 by the Committee on Budget and Fiscal Review \u2013 Early childhood education and childcare.<br \/>\nSB 124 by the Committee on Budget and Fiscal Review \u2013 Public resources trailer bill.<br \/>\nSB 127 by the Committee on Budget and Fiscal Review \u2013 Climate change.<br \/>\nSB 128 by the Committee on Budget and Fiscal Review \u2013 Transportation.<br \/>\nSB 132 by the Committee on Budget and Fiscal Review \u2013 Taxation.<br \/>\nSB 141 by the Committee on Budget and Fiscal Review \u2013 California Cannabis Tax Fund: Department of Cannabis Control: Board of State and Community Corrections grants.<br \/>\nSB 142 by the Committee on Budget and Fiscal Review \u2013 Deaf and Disabled Telecommunications Program.<br \/>\nThe Governor\u2019s signature on the state budget is contingent on the enactment of either AB 131 or SB 131 on Monday, June 30th.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sacramento, CA&#8230;Amid what Newsom says is Donald Trump\u2019s economic assault on California, Governor Gavin Newsom signed the 2025 state budget bill advanced in partnership with Senate President pro Tempore Mike McGuire and Speaker Robert Rivas. Together, the Governor and Legislature are enacting a responsible, balanced spending plan that safeguards California\u2019s values while maintaining long-term fiscal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":192961,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,20,5,1],"tags":[],"class_list":["post-192951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2025\/07\/Fullscreen-capture-712025-43854-PM.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/192951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=192951"}],"version-history":[{"count":2,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/192951\/revisions"}],"predecessor-version":[{"id":192962,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/192951\/revisions\/192962"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/192961"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=192951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=192951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=192951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}