Posted by Assemblyman Donald P. Wagner at 12:31 am on Jan 21, 2014 Comments Off on A Coming Fiscal Crisis?
California’s budget
situation is rosy for the first time in my more than three years in
the legislature. I’d like to say “You’re welcome.” But I can’t for
two reasons:
First, while my Republican colleagues and I have been fiscally
responsible in our legislative priorities, it is you, not
me or Gov. Brown or anyone else in Sacramento, who is fiscally
responsible for the surplus. You paid the additional income, sales,
and capital gains taxes that gave us the healthy budget we enjoy
today. You are responsible for the surplus, not the
politicians.
Second, it won’t last. That is not me talking, that’s the
governor’s own warning in the budget he put out last week. There is
just no sense in any legislator taking credit for a temporary
improvement in the state’s fiscal health unless . . . well,
I’ll come back to that in a moment.
There are several things to like about the governor’s proposed
2014-15 budget. Most importantly, it admits that the surplus will
be short-lived. It comes from – to use the governor’s words – a
“windfall” in capital gains receipts and “temporary” tax… Read More