Governor Brown announced today that triggers in state spending will be needed. Tax revenues have not met the projections assumed by this year's budget, passed by the legislature and signed by Brown. But it's not as bad as last month's prediction by the Legislative Analyst. The deficit is now $13 billion. Instead of adding $2 billion in red ink, Governor Brown's Finance Department says the current shortfall will add about half that much. The Governor has proposed that voters approve tax increased in next November's elections. He says if they don't, cuts will be harsher than ever.
State Budget Trigger Cuts to Take Effect
H.D. Palmer - California State Department of Finance - @HDatFinance, John Deasy - Los Angeles Unified School District - @DrDeasyLAUSD, John Myers - Los Angeles Times - @johnmyers, Joel Kotkin - fellow in Urban Futures at Chapman University, Raphael Sonenshein - California State University, Los Angeles - @SonensheinPBI