
Happy New Year!
Happy New Year!
Yes, it’s not January, but when the clock struck midnight on July 1 the state began the new fiscal year. That’s why so much has been said of late about the state budget; for the first time in a long time, the legislature actually has a budget in place by the start of the new budget year.
It was not a pretty thing getting here, and the budget is not a pretty thing to see.
First, the good news: Gov. Brown and the legislative Democrats finally agreed with Republicans about burdensome new taxes being unnecessary. Republicans have long counseled against the governor’s proposed almost $60 billion in new taxes because those taxes would have been a significant burden on hardworking families and a drag on our economy. The governor’s tax plan was precisely the wrong thing to do in the middle of a very fragile recovery. In addition, the tax plan would not have solved the state’s long term problems, as the governor’s budget did not even pretend to put those increased and burdensome taxes towards debt reduction or other worthwhile things. Instead, the taxes were actually just to fund a 27 percent increase in state… Read More