A deal on gas rebates for California taxpayers remained elusive as state lawmakers passed a $300 billion operating budget over the objections of Democratic Gov. Gavin Newsom.
It's the biggest jump in inflation in four decades. The price of everything, from gas to groceries, is going up fast, and experts warn that price hikes have not peaked.
While California has lots of money today, the Newsom administration fears the economy is showing signs of stress as stock prices fall and inflation keeps going up because of supply chain disruptions and the Russian invasion of Ukraine. This type of disagreement is typical in California, where governors usually see their role as stopping the progressive Legislature from spending too much money.
One thing Newsom and legislative leaders can agree on is they want to give a portion of the budget surplus back to taxpayers to help them pay for record-high gas prices. But they can't agree who should get the money, and how much they should get.
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