Billions in cuts proposed as California revenue plunges

Reflecting the drastic financial shortfall California is facing from the coronavirus pandemic, Gov. Gavin Newsom on Thursday proposed canceling $6.1 billion in spending increases that include nixing planned expansions of health coverage for vulnerable populations. Newsom's 2020-2021 budget estimates unemployment will climb to nearly 25 percent and overall tax revenues will drop by about a quarter. It also calls for a 10% pay cut for all state workers, including Newsom and his staff. Get the full story in the video above.