Walters: California’s Deficit Dilemma — Cut Spending, Borrow Money or Raise Taxes?

Walters: California’s deficit dilemma — cut spending, borrow money or raise taxes?

The California Legislature has just a few days to pass a 2025-26 state budget to meet the state Constitution’s June 15 deadline. The deadline will be met, if for no other reason than legislators would, at least theoretically, have their salaries suspended were they to miss it. However, the budget they enact may bear only a passing resemblance to what will eventually, perhaps many months later, become a complete fiscal plan. The revised budget th…

California's deficit dilemma: Cut spending, borrow money or raise taxes?

The California Legislature has just a few days to pass a 2025-26 state budget to meet the state constitution’s June 15 deadline. The deadline will be met, if for no other reason than legislators would, at least theoretically, have their salaries suspended were they to miss it. However, the budget they enact may bear only a passing resemblance to what will eventually, perhaps many months later, become a complete fiscal plan. The revised budget th…

California’s deficit dilemma: Cut spending, borrow money or raise taxes?

This story was originally published by CalMatters. Sign up for their newsletters. The California Legislature has just a few days to pass a 2025-26 state budget to meet the state constitution’s June 15 deadline. The deadline will be met, if for no other reason than legislators would, at least theoretically, have their salaries suspended were […] The post California’s deficit dilemma: Cut spending, borrow money or raise taxes? appeared first on Mo…

LA Council scheduled to take second and final vote on revised budget

More than a week after the City Council preliminarily approved a revised spending plan for fiscal year 2025-26, members are scheduled today to take a second and final vote on the matter, which would mark a significant step forward as the city grapples with a roughly $1 billion deficit.The second vote was scheduled for earlier last week, but it was delayed as staff finalized the required paperwork. It also needed to be submitted to the appropriat…