2023-24 State Budget Invests in Californians while Safeguarding State's Future

Press Release

Governor Gavin Newsom today introduced a 2023-24 state budget proposal that maintains the state's unprecedented investments in Californians while fortifying the state's strong fiscal foundation amid economic and revenue uncertainties ahead.

2023-24 State Budget Fact Sheet
"With our state and nation facing economic headwinds, this budget keeps the state on solid economic footing while continuing to invest in Californians -- including transformative funding to deliver on universal preschool, expand health care access to all and protect our communities," said Governor Newsom. "In partnership with the Legislature, we'll continue to prioritize the issues that matter most to Californians while building a strong fiscal foundation for the state's future."

Despite the slowdown impacting the state's economic and revenue outlook this year, the state's commitment to building reserves and budget resiliency over the last several years enables the 2023-24 state budget proposal to sustain key investments reflecting the values and priorities of Californians. This includes major funding to transform our education system, address the homelessness crisis and housing affordability, increase health care access, tackle the climate crisis, keep Californians safe and expand economic development and growth across the state.

Through strong fiscal planning, the Governor's proposed budget will protect core programs and invest in the state's future by continuing to:

Advance the highest state education per-pupil funding in history, free school meals for every child and universal transitional kindergarten
Implement historic investments to address homelessness and expand housing supply
Expand Medi-Cal, cut prescription drug costs and bolster mental and behavioral health services
Fight climate change and protect communities from flooding, drought, wildfires and extreme heat
Keep Californians safe through expanded efforts to combat fentanyl, organized retail theft and other crimes
Support economic development and small business across the state

Source