Governor Brown makes a hard right turn on the budget

In the revised $183.4 billion budget he released Thursday, Goverenor Brown proposed that legislators agree to a plan, devised with help from Treasurer John Chiang, to pay down California’s pension debt by $6 billion.

The state’s overall liability is $279 billion.

Brown’s budget analysts believe sales and corporate tax revenue will flatten in the coming year. But they predict $2.5 billion more than was expected in January, thanks to higher-than-expected personal income tax payments, and that is thanks to the capital gains of rich Californians.

Brown proposes a sober approach, giving $1.4 billion more to schools. That would raise public school spending to $74.6 billion, $18 billion more than a decade ago. Brown also offers $500 million more for child care for poor parents, and $600 million for in-home supportive services workers who care for the infirm.

Mostly, he anticipates an economic downturn.

Read the whole story in the Sacramento Bee


One comment

  1. Folks.. that headline is complete JOKE. Jerry wouldn’t know what fiscal restraint is if it bit him. He’s only trying to stop the complete collapse of the pensions AFTER he jacked pension taxes by 50%, is raising the teachers monthly tax to 13% on July 1st and higher in two years. He is raiding every source of revenue he can steal. It’s only because this is the last resort.. There’s nothing else he can. Otherwise, since he became Governor, he’s raised State spending by a whooping 84%.. hat doesn’t sound like fiscal restraint in the least !!!


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