With Eye on Re-election, Brown Pushes Rainy-Day Fund


SACRAMENTO — After overcoming years of fiscal dysfunction that stemmed in part from an antitax ballot referendum, Gov. Jerry Brown is trying to call California voters to the ballot again — this time to approve a constitutional amendment requiring that surpluses be used to pay down municipal debt and create an emergency fund.

The proposal comes as the state has ended years of multibillion-dollar budget gaps and is in the midst of another boom, bringing in billions more than it predicted in tax revenue this year and facing a budget surplus even more flush than anticipated just months ago.

As he begins campaigning for what would be an unprecedented fourth term as the state’s governor, Mr. Brown, a Democrat, is eager to play up his frugality, which has helped turn around the state’s era of i.o.u.'s. If he succeeds in his attempt to create a permanent contingency fund, it would be a crowning achievement in his efforts to right the state’s finances.

Read the entire story at the New York Times

Alice Gu David Michelson Steve Ofner Ned Ruthrauff Lilia Galindo adepelumi akingunsoye Ron Smith Steve Ofner Sarah Kendrick Eric Horodas Erica Kwiatkowski Linda Barnett Kathy McConnell John Paladin Ernest Lavagetto Douglas Reilly Dan Newman

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