California’s Budget Gaps Could Total $126 Billion in Worst Case

California is likely to face revenue shortfalls long after the coronavirus crisis ends, resulting in budget gaps that may total as much as $126 billion over the next four years if the economy doesn’t quickly recover, the state’s nonpartisan legislative analyst office said in a report Friday.

The analysis comes a day after California Governor Gavin Newsom said the federal government needs to help the state grapple with a $54 billion shortfall projected through June 2021.