{"id":202896,"date":"2026-06-30T15:40:28","date_gmt":"2026-06-30T22:40:28","guid":{"rendered":"https:\/\/new.thepinetree.net\/?p=202896"},"modified":"2026-06-30T15:40:28","modified_gmt":"2026-06-30T22:40:28","slug":"governor-newsom-signs-historic-balanced-state-budget","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=202896","title":{"rendered":"Governor Newsom Signs “Historic Balanced State Budget”"},"content":{"rendered":"
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Governor Gavin Newsom signed California\u2019s 2026-27 state budget, enacting a balanced spending plan that protects Californians today while strengthening the state\u2019s long-term fiscal future. The Governor released a video message outlining the philosophy that has guided California\u2019s fiscal stewardship over the past seven years \u2014 rejecting the false choice between responsible budgeting and making transformational investments in people.<\/p>\n

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A broadcast version can be downloaded\u00a0here<\/a>.<\/p>\n

The budget is balanced, structurally sound, and leaves\u00a0no projected deficit this fiscal year or next<\/b>, all while preserving historic reserves and continuing investments that make California more affordable, more competitive, and more prepared for the future.<\/p>\n<\/div>\n<\/div>\n

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For decades, we\u2019ve been told that government has to choose between balancing the books and investing in people. California proved that\u2019s a false choice. This budget reflects years of disciplined decisions that built historic reserves, paid down debt, strengthened our economy, and made transformational investments in education, healthcare, housing, infrastructure, and opportunity. We\u2019re leaving California stronger than we found it \u2014 and leaving the next generation a state that\u2019s fiscally sound, economically dominant, and ready for whatever comes next.<\/p>\n

Governor Gavin Newsom<\/small><\/p>\n<\/div>\n<\/div>\n

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Rejecting the false choice<\/b><\/h2>\n

The 2026-27 budget reflects a governing philosophy that has defined the Newsom administration: responsible budgeting is not about cutting ambitious goals or vital programs \u2014 it\u2019s about building the fiscal strength to invest in what matters.<\/p>\n

Through Governor Newsom\u2019s policies, California has grown into a world-leading economy, expanding from $3 trillion to a $4.25 trillion GDP, attracting nearly two-thirds of all U.S. venture capital investment, building historic budget reserves, and contributed approximately $15 billion toward paying long-term pension liabilities \u2014 all while making record investments in Californians.<\/p>\n

The budget preserves nearly $30 billion in reserves \u2014 and just over $35 billion when additional holding accounts are included \u2014 ensuring California remains prepared for future economic uncertainty.<\/p>\n

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Working alongside the Legislature, the Governor signed the\u00a0Save for California\u2019s Future Act<\/a>, advancing a constitutional amendment that will strengthen and modernize California\u2019s Rainy Day Fund for future generations.<\/p>\n

A budget that invests in Californians<\/b><\/h2>\n

The budget signed today continues California\u2019s commitment to investing in opportunity while maintaining long-term fiscal discipline.<\/p>\n

Among its key provisions, the budget:<\/p>\n