California is facing a $73 billion deficit, higher than previously projected, with concerns about using state reserves to address the climbing deficit.
Assembly Speaker Robert Rivas emphasized a cautious approach to reserves and expresses worry about short-term fixes for long-term issues.
“We are very concerned about short-term fixes for long-term problems,” Assembly Speaker Robert Rivas said.
“We look at all of the strategies when it comes to ensuring that we have a balanced budget — there are many of those tools that are available,” he said.
“Which ones are appropriate, I’m not going to comment on that yet. That’s what we’re trying to figure out now.”
Rivas plans to review state spending on housing and remains neutral on tax increases.
The state Department of Finance urges action on plans for $8 billion in savings to tackle the deficit, with the governor set to present an updated budget in May and a final spending blueprint in June.
State Republicans criticize Democrats on budget projections, calling for responsible budgeting prioritizing residents’ needs.
“It’s time for a course correction and a renewed commitment to responsible budgeting that puts the needs of our residents first,” Sen. Roger Niello said.
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