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California Governor Calls for 10,000 Fewer Jobs, Spending Cuts [Yahoo! Finance]
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of billions of dollars in spending to close a gaping deficit left by inflation and a plunge in tax revenue from wealthy earners. Most Read from Bloomberg Elon Musk Pledges to Grow Supercharger Business He Just Decimated Biden Set to Hit China EVs, Strategic Sectors With Tariffs Ackman Scolded Over DEI Views at Closed-Door Milken Session Apple Apologizes for iPad Pro Ad, Scraps Plan to Air It on TV Novavax Soars on $1.2 Billion Sanofi Vaccine Licensing Deal Newsom, a second-term Democrat, in January had proposed a $208.7 billion plan that shrunk the state's general-fund budget nearly 10% from the current fiscal year in order to fill what was estimated at the time as a $38 billion deficit. But his updated spending plan released Friday — based on the latest revenue figures in what is known as the May Revision — proposes even deeper cuts with the state's general fund plummeting to $201 billion for the upcoming fiscal year that begins July 1. In total, the governor is offer
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