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News reports and commentators have cited the state's various legislative supermajority requirements as a contributing factor to the state budget crisis. [23] [24] The state has a long history of supermajority requirements with a 1933 state ballot measure mandating a two-thirds supermajority to pass the state budget and California Proposition 13 (1978) mandating another two-thirds supermajority ...
A number of states have a two-year or three year budget (e.g.: Kentucky) while others have a one-year budget (e.g.: Massachusetts). In the table, the fiscal years column lists all of the fiscal years the budget covers and the budget and budget per capita columns show the total for all those years.
California faced another budget gap for 2010, [8] with $72 billion in debt. [9] California faced a massive and still-growing debt. [10] In June 2009 Gov. Arnold Schwarzenegger said "Our wallet is empty, our bank is closed and our credit is dried up." [11] He called for massive budget cuts of $24 billion, about 1 ⁄ 4 of the state's budget. [11 ...
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California lawmakers approved a budget on Wednesday that slashes spending and temporarily raises taxes on some businesses to close an estimated $46.8 billion budget deficit. It's the second year ...
Traditionally, the state of California has been the largest public supporter of the UC system. In response to state budget woes, UC Berkeley Chancellor Robert Birgeneau in 2011 made the claim that his own university is turning into a federal and not a state institution because of the inversion of the proportion of funds given by each ...
The Legislative Analyst’s Office identified around $15 billion in cuts that could be made to make up for the state’s shortfall. ... executive director of the California Budget and Policy ...
The economy of the State of California is the largest in the United States, with a $4.080 trillion gross state product (GSP) as of 2024. [1] It is the largest sub-national economy in the world. If California were a nation it would rank in terms of nominal GDP as the world's sixth largest economy , behind India ( 4.27 trillion ) and ahead of the ...