Lawmakers have approved a budget that likely won’t become law because Democratic Gov. Gavin Newsom has not agreed to sign it. Newsom is still negotiating with Democrats who control the Legisl…
. At stake is how to spend more than $300 billion for the fiscal year that starts July 1.
Both sides agree the state will have a $31.5 billion budget deficit, to be covered through a combination of delayed spending, some cuts and borrowing. Once those actions are taken, both sides end up with about $37 billion in reserve.Public transit agencies, most notably in the San Francisco Bay Area, say they are running out of money because federal aid they have been relying on expires soon. They have asked the state to help make up that difference.
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