Governor Newsom released the May Revision that reflects an improved General Fund revenue outlook compared to the proposed 2026-27 January Budget, driven largely by stronger-than-anticipated personal income tax collections. While the May Revision balances the budget for 2026–27, the Administration continues to emphasize the state’s fiscal challenges across multiple years and the need for ongoing spending and revenue solutions. The May Revision includes $151.6 billion for TK-12 education programs and updates several proposals included in the Governor’s January Budget, including adjustments to Proposition 98, the Local Control Funding Formula (LCFF), special education, educator workforce investments, and student support programs.
