Posted on April 10th, 2009 — in Public Finance :: State Budget :: Taxes
Looking at trends in employment, income, consumer spending, and housing, California Forward predicts that the state’s budget crisis will be longer and more difficult than generally anticipated. Forecasting a drop of 11% over the next two years in the state’s three major revenue sources (sales and use taxes, income taxes, and corporate taxes), the authors argue that more serious, systemic reforms are necessary to prevent further fiscal turbulence.
Posted on April 1st, 2009 — in Public Finance :: State Budget
The record setting budget stalemate of 2008 has revived the debate over requiring the budget to pass with two-thirds legislative majority. Public Policy Institute of California looks at this and other fiscal policy restrictions, finding that California ranks first among states in the number and types of constraints it places on taxing and spending.
Posted on April 1st, 2009 — in Governor :: Public Finance :: State Budget
As legislators grapple with the state’s current fiscal crisis, Adam Summers’ report looks back at the policy decisions that led to this point. Analyzing the budgets and spending patterns of previous three governors, he asserts that excessive spending (not lack of revenue) is to blame for the state’s historic budget deficit, and makes recommendations for reform.
Posted on March 18th, 2009 — in National Affairs :: Politics :: Public Finance
The California Budget Project has created a table describing many of the provisions in the $787 billion stimulus package that will benefit California. Details for each provision include program area, purpose, and estimated impact in California.
Posted on December 19th, 2008 — in Public Finance :: Transportation
The Legislative Analyst’s Office proposes the use of revenue bonds backed by future gas tax revenues to accelerate 122 highway rehabilitation projects. If the Legislature agrees, look for a ballot measure seeking voter approval.
Posted on December 18th, 2008 — in Public Finance :: State Budget
Martha Jones of the California Research Bureau reports on where state funds are spent, and documents an uneven distribution across regions. Data collection problems abound. Among her findings: “there seems to be a growing disconnect concerning the amount of local assistance reported by the state in the Governor’s Budget compared with the amount of state or federal aid reported as received by local jurisdictions.”
Posted on October 12th, 2006 — in Growth, Development & Infrastructure :: Politics :: Public Finance
The basics on the infrastructure bonds, from the California Budget Project.
The Public Works Bond Package
Posted on September 27th, 2006 — in Public Finance
More than 70 percent of city officials in California say their cities are in better fiscal shape this year than last. And more than 60 percent predict an even rosier picture next year. This from a survey by the Public Policy Institute of California.
Perspectives on Local and State Finance and Infrastructure in California
Posted on September 19th, 2006 — in Public Finance
With the voters facing more than $40 billion in bond issues on the November ballot, the Public Policy Institute of California has a primer on bond financing.
Financing Infrastructure
Posted on September 5th, 2006 — in Politics :: Public Finance :: Resources and Environment
The Legislative Analyst’s Office has produced a summary of Proposition 84, a $5.4 billion water bond on the November ballot.
Proposition 84
Posted on August 31st, 2006 — in Politics :: Polls and Surveys :: Public Finance
A new poll by the Public Policy Institute of California shows the big bond package on the fall ballot is in trouble. The transportation and school bonds are just over 50 percent, and that number is likely to fall as the election approaches and voters get cold feet. Smaller measures for affordable housing and flood control are doing better, but they are hardly sure winners. Lots of interesting stuff here. For one thing, who would have thought voters would be more willing to borrow for affordable housing, which benefits the poor, than for roads, which benefit everybody. More important, for years Californians have said they want another era like the Pat Brown days. But Brown did what he did by raising taxes on rich people and borrowing even more through bonds. Now voters have the chance to do that, but they’re rejecting a gubernatorial candidate promising a tax increase for the rich and may kill off large pieces of a huge bonding package. Do Californians really want Pat Brown-like governance?
Californians and the Future
Posted on August 28th, 2006 — in Politics :: Public Finance
The California Budget Project clears up the impact of Proposition 1A on the November ballot.
Proposition 1A of 2006