From May 7, 2020, includes “California will have a budget shortfall of $54.3 billion because of the economic devastation wrought by the coronavirus, Gov. Gavin Newsom’s administration announced Thursday, a stunning reversal for a state that had a $21 billion surplus a year ago. … in a memo released Thursday, the Newsom administration says the state’s bleak financial outlook ‘underscores the necessity of further federal stimulus to help states and local governments.’ …”