SACRAMENTO, California — Governor Gavin Newsom signed California’s 2026–27 state budget on June 29, 2026, delivering a balanced spending plan with no projected deficit for the current fiscal year or the next, while preserving nearly $30 billion in budget reserves and continuing investments in education, healthcare, housing, and infrastructure.
Saratoga, a city of approximately 31,000 in Santa Clara County about 50 miles south of San Francisco, sits in the heart of Silicon Valley where many residents commute to Apple, Netflix, and Google.
The budget reflects California’s economic growth under the Newsom administration, with the state’s GDP expanding from $3 trillion to $4.25 trillion. California has attracted nearly two-thirds of all U.S. venture capital investment and has contributed approximately $15 billion toward paying down long-term pension liabilities, according to the Governor’s office.
“For decades, we’ve been told that government has to choose between balancing the books and investing in people. California proved that’s a false choice. This budget reflects years of disciplined decisions that built historic reserves, paid down debt, strengthened our economy, and made transformational investments in education, healthcare, housing, infrastructure, and opportunity.” — Governor Gavin Newsom