Posts Tagged: $55 billion

Cutting ‘fatal flaw’ helps budget

Gov. Jerry Brown at a Capitol briefing last year on his revised state budget. Photo: Rich Pedroncelli/AP

by LENNY MENDONCA and PETE WEBER posted 01.19.2016

OPINION: Californians can breathe a sigh of relief. When proponents of a 2016 ballot proposal to extend Proposition 30’s tax rates on wealthy Californians amended their measure this week, they did something that was both politically smart and fiscally sound: They eliminated a provision the governor a few days ago called the measure’s “fatal flaw”, that would have exempted this proposed new revenue from the state’s Rainy Day Fund.

Words of gloom accompany Brown’s budget

Gov. Brown unveils his 2016-17 budget plan, urging caution about potential economic downturns. (Photo: Rich Pedroncelli/AP

by ALEX MATTHEWS posted 01.07.2016

California’s economy is on the mend and revenues are fat, but Gov. Brown offered some words of gloom as he unveiled a $171 billion budget blueprint for the fiscal year beginning July 1. “If you’re a betting person, you can easily conclude that deficits are more likely than surpluses,” Brown said Thursday as he presented his 2016-17 budget to the Legislature.