Sacramento, CA – Senator Mike McGuire issued the following statement in response to Governor Newsom’s May Budget Revision released this morning:
“Governor Newsom’s forward-looking budget revisions reflect the need to build up our rainy day fund and pay down billions in debt in good financial times while investing in programs that will help the Golden State continue to grow. An additional $1.2 billion will be invested in our rainy day fund, bringing us to a record $16.5 billion. We’ll need every penny when the economy slows.