TODAY, CALLS FOR NEARLY 900 ADDITIONAL BEDROOMS. THIS WEEK, CALIFORNIANS WILL GET AN UPDATED LOOK AT THE STATE BUDGET BASED ON THE LATEST NUMBERS. ON THURSDAY, GOVERNOR GAVIN NEWSOM WILL RELEASE HIS MAY REVISE, WHICH IS A LOOK AT HIS BUDGET PRIORITIES FOR THE UPCOMING FISCAL YEAR. CECIL HANNIBAL HAS A LOOK AT WHERE ALL THAT STANDS. ON THURSDAY, WE WILL GET A MORE DETAILED LOOK AT WHAT GOVERNOR NEWSOM IS PLANNING IN ORDER TO FUND STATE DEPARTMENTS AND PROGRAMS STARTING JULY 1ST. GOVERNOR NEWSOM LAID OUT HIS INITIAL PROPOSAL FOR $348 BILLION, WHICH WAS A $30 BILLION INCREASE FROM THE STATE’S CURRENT BUDGET. GOVERNOR NEWSOM PROJECTED THE STATE WOULD HAVE TO GRAPPLE WITH A $2.9 BILLION SHORTFALL, BUT A BUDGET CALCULATING MISTAKE AND INCREASED REVENUE MAY HAVE SHORTENED THE GAP. WE WILL KNOW MORE ON THURSDAY MORNING. LAST FRIDAY, GOVERNOR NEWSOM WAS ASKED ABOUT THE UPCOMING MAY REVISE AND WHERE THE STATE’S ECONOMY STOOD. THE ECONOMY OF THE STATE IS REMARKABLE, RESILIENT, DOMINANT. YOU SAW THE BLOOMBERG PIECE GOING BACK SEVEN AND A HALF YEARS. NO ECONOMY IN THE UNITED STATES OF AMERICA, NO STATE HAS OUTPERFORMED THE STATE OF CALIFORNIA. NO DEVELOPED NATION IN THE WORLD IS OUTPERFORMING THE ECONOMY OF CALIFORNIA. IN THE LAST SEVEN, ALMOST EIGHT YEARS, WE DOMINATE. AND THAT WILL BE REFLECTED IN THE MAY REVISED NEGOTIATIONS ON THE STATE SPENDING PLAN SET TO RAMP UP. LAWMAKERS HAVE UNTIL JUNE 15TH. BY STA
Gov. Newsom to release updated California budget proposal Thursday
Updated: 9:14 PM PDT May 12, 2026
Governor Gavin Newsom is set to release his May Revise on Thursday, offering an updated look at his budget priorities for the upcoming fiscal year. In January, Newsom proposed a $348 billion budget, reflecting a $30 billion increase from the current state budget. At the time, he projected a $2.9 billion shortfall, but a budget calculation mistake and increased revenue may have reduced the gap. Last Friday, Newsom commented on the state’s economy and the upcoming May Revise. “The economy in this state is remarkable, resilient, dominant,” Newsom said. “No economy in the United States of America, no state has outperformed the state of California. No developed nation in the world has outperformed the economy of California in the last seven to almost eight years.” Negotiations on the state spending plan are expected to ramp up next week. By state law, lawmakers must pass a balanced budget by June 15. The next fiscal year begins July 1.See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel
Governor Gavin Newsom is set to release his May Revise on Thursday, offering an updated look at his budget priorities for the upcoming fiscal year.
In January, Newsom proposed a $348 billion budget, reflecting a $30 billion increase from the current state budget. At the time, he projected a $2.9 billion shortfall, but a budget calculation mistake and increased revenue may have reduced the gap.
Last Friday, Newsom commented on the state’s economy and the upcoming May Revise.
“The economy in this state is remarkable, resilient, dominant,” Newsom said. “No economy in the United States of America, no state has outperformed the state of California. No developed nation in the world has outperformed the economy of California in the last seven to almost eight years.”
Negotiations on the state spending plan are expected to ramp up next week. By state law, lawmakers must pass a balanced budget by June 15. The next fiscal year begins July 1.
See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel