Search results
Results from the WOW.Com Content Network
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 ...
Yet another suggested that the state should pay interest on the back pay since workers wouldn’t be able to stash it in an interest-accruing savings account or invest it. “Of course, that will ...
The official oppositional statement of the proposition argues that "Proposition 2 will increase our bond obligations by $10 billion, which will cost taxpayers an estimated $18 billion when repaid with interest. A bond works like a government credit card—paying off that credit card requires the government to spend more of your tax dollars!
Analysts said California could have used some of the $43.5 billion the state received in American Rescue Plan Act money to pay down the debt. Instead, state officials spent the relief money for ...
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 ...
800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. Mail. Sign in. Subscriptions;
The Big Five is an informal institution of California state government, consisting of the governor, the Assembly speaker, the Assembly minority leader, the Senate president pro tempore, and the Senate minority leader. Historically, members of the Big Five met in private to negotiate California's state government budget.
The state of California is stepping in to contribute millions of dollars to raise the levee protecting the city of Corcoran and a pair of nearby state prisons from the ongoing flooding in the ...