Gov. Gavin Newsom on Thursday released an updated budget plan that shows California has erased its projected deficit for the next two years, thanks to billions of dollars in additional tax revenue tied to Silicon Valley’s artificial intelligence boom.

The governor says his final budget proposal wipes out deficit in the short term, halves it in the long term - with significant education investment.

California tax revenue is soaring thanks to tech stocks. But Gov. Gavin Newsom is proposing more cuts, warning that the boom won't last and Trump cuts will hit the state hard.

California lawmakers will face a challenging budget environment next year, marked by a projected $18 billion budget deficit, according to the state's Legislative Analyst's Office. The sobering news is amplified by a new survey revealing state residents ...

Why doesn’t West Virginia have more debt? The question rates asking in response to a Wall Street Journal editorial which observes that California “is facing huge budget deficits despite an ebullient stock market and capital-gains rush.” The answer to ...

Backfilling today’s federal reductions would be costly, and health care advocates are ramping up pressure on Capitol politicians to do it, but the underlying structural deficit is a far bigger nut to crack.