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May 15, 2024
Governor Newsom has released his May Revise to the 2024-25 state budget proposal, which shows a growing state deficit and some cuts to affordable housing programs.
May 20, 2025
On May 14, Governor Newsom released his May Revise to the 2025-26 state budget, announcing a $12B deficit and offering a dire updated proposal with no funding for the major state housing programs.