The 2025-26 Budget: Overview of the Governor's Budget

Jan 13, 2025 - These solutions yielded General Fund savings of $11  billion through 2025 ‑26. The Governor ’s budget reduces this amount by $1.3  billion through 2025 ‑26. The reason for the reduction is the recent voter approval of Proposition  35 (2024), which requires the state to spend less MCO tax money on offsetting General Fund spending and more money on provider rate increases.
https://lao.ca.gov/Publications/Report/4951