Sunday, January 8, 2017

More budget leaking

The state budget will be released by Gov. Brown and aides on Tuesday, Jan. 10, 11 AM.* Although no numbers have been released, there has been a series of cautionary news articles basically indicating that things are uncertain due to the incoming Trump administration. The latest:

Gov. Jerry Brown will release a proposed state spending plan this week without knowing the answers to key questions that will have a massive effect on the state's finances. Will California take a hit from new federal spending priorities under President-elect Donald Trump? How will the stock markets respond, affecting the incomes of wealthy taxpayers who provide a disproportionate share of state revenue? Depending on the answers, the budget proposal may be short-lived and substantially overhauled by the time Brown issues his required revision in May... "We want to be careful not to overcommit the state to levels of spending that may not be sustainable over the long term," said H.D. Palmer, a spokesman for Brown's Department of Finance...

Full story at
*The release will be live-streamed at the Calchannel:

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