Major Budget Surplus: Funds for Climate Change, Housing
- Josh Stephens
- Jul 12, 2022
- 4 min read
While few economists would call California's revenue streams optimal -- especially with the constraints of Proposition 13 -- the state hit the jackpot in 2021 with, by some measures, a surplus of over $95 billion above projections. That surplus is bigger than the entire annual budgets of all but eight states. This year's total general fund budget amounts to $235 billion, up from $196 billion last year.
