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California lawmakers agree to close $54.3 billion budget gap

Rich Pedroncelli/AP

FILE - In this Sept. 12, 2019, file photo, California state Senate President Pro Tem Toni Atkins of San Diego speaks on the floor of the Senate in Sacramento, Calif. California's Democratic legislative leaders have agreed on a budget they say covers the state's estimated $54.3 billion deficit while avoiding most of Gov. Gavin Newsom's proposed budget cuts to public education and health care services.The agreement, announced Wednesday, June 3, 2020, by Assembly Speaker Anthony Rendon, Senate President Pro Tem Toni Atkins and the chairs of the legislative budget committees, "ensures full funding of K-12 schools," according to a news release. (AP Photo/Rich Pedroncelli, File)

By: Anthony Wright, 23ABC

Posted at 9:02 AM, Jun 04, 2020

and last updated 2020-06-04 12:02:57-04

(AP) — California's Democratic legislative leaders have reached an agreement on the state budget that covers an estimated $54 billion shortfall.

The deal announced Wednesday avoids most of Gov. Gavin Newsom's proposed budget cuts to public education and health care services but also relies heavily on increased federal funding coming in to address the coronavirus pandemic. It retains Newsom’s proposed tax increase on some businesses that would generate $4.4 billion and would delay $9 billion in payments to public schools. It also includes more money for homeless services and universities.

The Legislature has until June 15 to work out a deal with Newsom and pass a budget.

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California lawmakers agree to close $54.3 billion budget gap

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