California governor to update budget proposal with new money

By ADAM BEAM
Associated Press

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom will likely announce another record-breaking budget surplus. Newsom is scheduled to update his budget proposal on Friday. The surplus could be as high as $68 billion in the general fund. That’s an increase from the $29.6 billion initial surplus Newsom announced in January. Newsom has already announced how he plans to spend some of this new money. But Friday he will reveal all of his new proposals in detail. Newsom and state legislative leaders want to give some of the money to taxpayers to offset high gas prices. But so far they haven’t agreed how to do that.