Reversal of fortune: Gov. Newsom outlines plan to deal with budget deficit

STATEWIDE - California will delay some spending commitments, reverse recent steps to shore up its fiscal health and shift funding sources to limit the cuts it must make to close a projected $22.5 billion budget deficit, Gov. Gavin Newsom said today.

The shortfall, slightly less than the $24 billion that financial analysts for the Legislature estimated in November, will not prevent the state from fulfilling its ambitions of transforming education, homelessness, housing affordability and health care, the Democratic governor insisted.

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