Democratic California Gov. Gavin Newsom celebrated on Monday after he reached an agreement with the state legislature on a budget for the next fiscal year.
The deal on the newest proposal came after weeks of deliberations, as the governor aimed to bolster a future focused on public education, healthcare, and public safety. He said the agreement raises the budget reserves in the Golden State to a record $38 billion.
LATEST WHISTLEBLOWER REPORTS ON BIDENS ARE ULTRA EXPLOSIVE
Governor Newsom's statement on the budget agreement reached with Senate President pro Tem Atkins and Assembly Speaker Rendon: pic.twitter.com/xkmzryHMmQ
— Office of the Governor of California (@CAgovernor) June 27, 2023
However, the budget will reduce investments in fighting climate change, per the Los Angeles Times, which added that Newsom threatened to veto the legislature's priorities over the past week if they did not approve his infrastructure plan.
Newsom touted the 2023-2024 budget as attaching "new accountability measures for transit and homelessness investments," as well as "accelerating our global leadership on climate by fast-tracking the clean energy projects that will create cleaner air for generations to come."
The Democratic governor also emphasized the budget's prioritization of "embracing businesses that pave the way with new tax credits for businesses that manufacture computer chips, clean energy facilities, and more," saying these projects will especially help marginalized communities "and create hundreds of thousands of jobs."
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The agreement was made just in time, as Newsom was required to sign a 2024-23 budget by June 30.
State Sen. Toni Atkins, a Democrat and president pro tem of the chamber, released a statement saying in part, "We started our budget process this time around with tough economic challenges, but one overarching goal: to protect California's progress. This budget does exactly that..."