SACRAMENTO, Calif. — As Gov. Gavin Newsom decides the fate of the hundreds of bills still on his desk, a pattern has emerged with those he has declined to sign: veto messages emphasizing budgetary discipline.
Economic uncertainty at the state and national level is prompting him to keep a tighter hold on spending. Meanwhile, state financial experts are preparing for a time when the Golden State does not have a nearly $100 billion surplus.
Analysts are already seeing signs this may happen sooner rather than later. Tax revenue is coming in under forecast, mostly due to lower personal income tax receipts, according to the September state economic update.
