Legislative analyst Mac Taylor released his office’s annual fiscal outlook today. He’s projecting a $1.9 billion deficit over the next year-and-a-half, followed by a growing surplus in each of the next several years.
California’s once-enormous budget deficit has shrunk to just under $2 billion, and the state could soon have a surplus. But Mac Taylor, California’s non-partisan legislative analyst is urging caution as state finances improve.
Not long ago, California hit rock bottom, with a massive budget deficit.
Nearly four years ago Governor Arnold Schwarzenegger told a crowd, “the $42 billion deficit is a rock upon our chest that we cannot breathe until we get it off.”
California State University leaders have delayed a vote on a proposal to increase student fees.
The proposal would charge extra fees on so-called “super seniors,” students who take more courses than required, and course repeaters. Governor Brown asked the CSU Board of Trustees to postpone the vote.
Before last week, California voters had rejected every statewide tax measure since 2004. This election, they approved two of them. They also said yes to more than 70 percent of the local tax and bond measures on last week’s ballot. But as Ben Adler reports from Sacramento, this may not be the start of a new trend.
The passage of Propositions 30 and 39 snapped a seven-measure winning streak for the Howard Jarvis Taxpayers Association. But President Jon Coupal says that doesn’t mean the attitudes of California voters are changing when it comes to taxes.
