Fiscal Conservatives Should Be Proud of Republican-Negotiated Rainy Day Fund Proposal
Today, the Assembly and the Senate will consider a Rainy Day Fund proposal (Assembly Constitutional Amendment 1xx) for inclusion on the November 2014 ballot.
We believe Californians will support it because they want to end our chronic budget crises and pay down debt. But just as important, fiscal conservatives should be especially pleased that it includes key reforms Republicans have talked about for years that, frankly, no one expected us to achieve.
ACA 1xx guarantees that 1.5 percent of total general fund revenue every year will be transferred into the rainy day account before funding any other programs. In economically robust… Read More