Senate Budget and Fiscal Review Committee, Wednesday, January 21, 2026
California State Senate Committee on Budget and Fiscal Review · January 21, 2026
The California State Senate Committee on Budget and Fiscal Review convened to hear the Department of Finance and the Legislative Analyst's Office present the governor's 2026–27 budget. The administration said the budget is balanced in the budget year with $23 billion in reserves but a $2.9 billion budget-year shortfall; the LAO warned of significant downside revenue risk and urged earlier, substantive work on multi-year deficits.
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