Passage of Historic Budget Package Marks the First Time in Twenty Five Years that the Constitutional Deadline is met by Both Houses
SACRAMENTO – The California State Assembly today passed a comprehensive budget package, meeting the constitutional deadline of June 15th for an on-time budget.
“This budget will solve more than half of our structural deficit going forward, and is a major step towards finally eliminating that deficit,” Pérez said. “This is a responsible, balanced budget that will ensure private businesses, schools and local governments have adequate stability in their finances, and help move California along the difficult path of economic recovery.”
Speaker Pérez noted the solutions remain consistent with Assembly Democrats’ goal to protect jobs, schools and public safety, and that the budget maintains school and community college funding at the Governor’s March budget level.
In addition to protecting jobs, schools and public safety, the package provides a sensible plan that, along with the more than $12.5 billion in cuts previously approved in March, closes the original $26 billion shortfall and provides a reserve of roughly $600 million. The combination of tough budget cuts and necessary revenue solutions eliminates over 60 percent of the persistent structural deficit—an astonishing number given the fact Californians will pay less in taxes starting July 1.
“I am proud of my Democratic colleagues, and California’s Governor, for stepping up to make the hard decisions necessary to bring stability back to California’s finances,” Pérez added. “We have much work ahead, and this budget provides a pathway for us to finally eliminate the structural deficit and restore health to California’s economy.”
Below are links to audio of the Speaker and Budget Committee Chair Bob Blumenfield:
Remarks from Speaker Pérez during today's floor session. (4:22)
CONTACT: Robin Swanson, John Vigna (916) 319-2408
Website of Speaker John A. Pérez: www.asmdc.org/speaker