Monday, June 27, 2016

Budget Week

The state budget is supposed to be in place by July 1, Friday of this week. In the old days, when the economy was in trouble and you needed a 2/3 vote to pass a budget, there were long delays beyond the deadline. An improved economy and a ballot proposition cutting the requirement to a simple majority have ended budget delays. However, the governor has a line-item veto and in the recent years has made minor cuts in what the legislature enacted, which adds a bit of suspense. He has some problems to deal with, notably a failure of the cap-and-trade program to produce anticipated revenue - which is a potential threat to his high-speed rail project. We await.

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