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Will Congress help California? Governor's budget banks on it
Read full article: Will Congress help California? Governor's budget banks on itGavin Newsom may call California a nation state, but he's hanging his hopes for avoiding drastic state budget cuts squarely on the federal government. Outlining his budget proposal Thursday, Newsom laid out in stark terms the problems California faces as it reacts to falling revenues and increased spending from the coronavirus pandemic. His budget is a draft, and he now enters negotiations with state lawmakers ahead of a June 30 deadline. California already expects to receive $186 billion through four approved congressional bills, according to budget documents. Sanjay Varshney, professor of finance at California State University-Sacramento, said as states line up for federal help, there may not be enough to go around.