
Budgets, Bad Pizza and the Blues
The California State Assembly voted last night for the 2007-2008 State Budget, an approximately $105 Billion budget; I voted for it. The budget wasn’t pretty, but it never is. Hence the blues. The simple truth is, a compromise document of any sort will be riddled with give-aways and demands. In this instance, I believe the budget, as imperfect as any compromise budget can be, was probably one of the best deals we’ve seen in California in some time. Let me tell you why:
The Budget contains a remarkable tax credit package the likes of which Assembly Republicans haven’t seen in a decade. This package of tax credits will run for five years and will be evaluated during the fourth year to determine if they have, like Republicans have always charged, resulted in increased revenues to the State. This package will benefit California industries and promote new jobs and better wages. This is a clear win for California.
The Budget will ensure that the State’s monolithic structural deficit will be reduced next year, a feat that many didn’t think possible in light of the autopilot budget features that the State is strapped with.… Read More