January Budget Proposal: Overview & How it impacts the Climate Commitment

On January 10th, Gov. Gavin Newsom released his budget proposal for the 2023-24 Fiscal Year. The proposal is reflective of forecasts anticipating a tighter budget than in recent years — the Legislative Analyst’s Office projects that California could see a budget shortfall close to $24 billion in 2023 and the Governor’s Department of Finance forecasts a budget shortfall of roughly $22.5 billion in 2023. These forecasts have led the administration to propose significant changes to the state budget, including revisions to its own historic $54 billion California Climate Commitment enacted last year. This fact sheet summarizes those changes.


Read the Factsheet

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