Transportation, Climate Change Programs Take Hits in Newsom's Budget
- Josh Stephens
- Jan 12, 2023
- 2 min read
After a record-setting budget and budget surplus last year, of $235 billion and $95 billion, respectively, economic gravity is setting in. Gov. Gavin Newsom announced a 2023-24 budget that slashes over $22 billion of intended spending in order to accommodate what is expected to be lower tax revenues.