Posts Tagged: budget
Recent News
On deadline, lawmakers are poised to act on the most extensive state building construction projects in Sacramento in decades. The $1.3 billion plan, about $200 million less than proposed earlier by Gov. Brown as part of his 2016-17 budget, was placed in legislation Monday before the Senate budget committee, where it awaits action.
Opinion
Information technology has been a key driver of productivity growth in the private sector, as evidenced by the fact that companies that have invested the most in computers, software, and communications grew their employees’ output per hour three times faster than other companies. Unfortunately, it appears that most state governments, including California, lag behind and are more like those companies that have invested less in IT.
Opinion
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.
Opinion
OPINION: Prices for prescription drugs are rising precipitously, seriously threatening public and private healthcare budgets, and creating barriers preventing patients from accessing needed therapies. Pharmaceuticals now account for 19 percent of employer spending and Medicare spending on healthcare and, with a slew of approvals of new $100,000+ medications, there is no relief in sight.
News
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.
News
California has spent $133 million fighting wildfires since July 1, about a third of its budgeted amount. The figure includes the costs of suppressing major blazes across the heat- and drought-ravaged state during the past month. The state has fought about 4,500 fires since January.
News
Calpensions: President Obama said he has directed his labor department to propose rules showing states how to create what in California could be an “automatic IRA,” a payroll deduction that puts money into a tax-deferred savings plan unless workers opt out. The rules are expected to answer a key question: Is Secure Choice exempt from a federal retirement law, ERISA, that not only has employer administrative costs but may also expose employers to liability for failed investments and other problems?
News
Calpensions: An accounting board best known for requiring the calculation and reporting of the debt owed for retiree health care promised government workers, which often turned out to be shockingly large, is having another moment. This month the Governmental Accounting Standards Board applied new rules for reporting pension debt to retiree heath care.
News
Water and the lack of it is the No. 1 issue confronting California, and most people across the state believe their neighbors aren’t doing enough to deal with the drought. The nonprofit Public Policy Institute of California reported that nearly four in 10 of those surveyed said water and drought was the most important issue, about double those – 20 percent – who saw jobs and the economy as the key issue.
Opinion
A new analysis of the state budget from the nonpartisan Legislative Analysts Office identifies about $1.1 billion in new money available in the budget for discretionary spending. Gov. Jerry Brown and legislative leaders have an opportunity to make spending decisions that will prioritize children, many of whom took the brunt of budget cuts over the last decade.
The state Capitol in Sacramento, viewed from 10th Street toward the West Steps.(Photo: Timothy Boomer)
