California and other states need to start being honest about their budgets and future liabilities, or face a terrible reckoning a generation from now, that according to the State Budget Crisis Task Force.
A robust economic recovery and surging revenue propelled by voter-approved tax increases has sent California’s general fund spending to a record high, but Gov. Jerry Brown is pledging a somber approach to the windfall.
Gov. Jerry Brown’s budget for the coming fiscal year calls for an 8.5 percent increase in general fund spending coupled with a dedication to pay down the state’s debt by more than $11 billion.
California’s independent legislative analyst is offering a rosier financial forecast for the state than in the last several years.
California schools will receive an infusion of more than $3.6 billion in extra money this year, much of it targeted to the neediest students as part of a redistribution plan pushed by Gov. Jerry Brown.
Gov. Jerry Brown and the Legislature’s Democratic leaders moved close to a state budget deal Monday that is expected to revamp education funding and begin restoring some of the social services cut during the recession.
Most Californians favor paying down the state’s debts and building a reserve over additional spending for social services, according to a poll released Wednesday that provides a boost for Gov. Jerry Brown’s budget plan.
Gov. Jerry Brown told county officials Wednesday that the state cannot afford to “double-pay” as he seeks to expand California’s health care program for the poor, meaning counties will have to forfeit millions of dollars in state funding.
Gov. Jerry Brown is proposing a $96.4 billion spending plan for the coming fiscal year that starts July 1, funneling more money to K-12 schools but otherwise taking a cautionary approach to spending.
Gov. Jerry Brown is reaping the benefits of an economic turn-around and higher taxes as he prepares to release his update Tuesday for the coming fiscal year’s budget. The state has collected $4.5 billion more than expected from personal income taxes.