Recently, Governor Gavin Newsom released the 2024 Budget Agreement. This joint budget plan affects a variety of public services and systems in California. Only $16 billion in reductions made the cut. Here’s what will be reduced in this year’s budget:
- California Student Housing Revolving Loan Program—A reduction of $500 million.
- Housing—A reduction of $1.1 billion to various affordable housing programs.
However, the agreement does propose continued contributions to vital programs such as:
- Homeless Housing Assistance and Prevention Program—$1 billion one time to provide local governments funding to combat the homelessness crisis—tied to increased accountability measures.
- Encampment Grants—$250 million ($150 million in 2024-25 and $100 million in 2025-26).
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