Friday, July 1, 2011

California:  How Jerry the Wizard Conjured a ‘Balanced' Budget

... the [enacted] Magic Budget maintains
$150 million cuts each to University of California, California State University,
$150 million cut to state courts,
$200 million in Amazon online tax enforcement,
$2.8 billion in deferrals to K-12 schools and community colleges,
$300 million from $12 per vehicle increase in DMV registration fee,
$50 million from fire fee for rural homeowners,
$1.7 billion from redevelopment agencies and
higher tax receipts worth $1.2 billion from May and June.
... if revenues don't meet projections by January, prisons and the University of California and California State University systems would each lose another $100 million.
Programs for the sick, disabled and poor would be cut by twice that amount.
Moreover, K-12 schools could face a $1.5-billion cut and be forced to shorten the school year by up to seven days.
Republicans who have been neutered, tried to claim a victory for having prevented Brown and the Democrats from raising taxes. The simple truth is because of Republicans' resolve, temporary tax increases will expire this Friday and the average California family will save nearly $1,000 per year, said GOP Assembly Leader Connie Conway.

For more, see How Jerry the Wizard Conjured a ‘Balanced' Budget, June 29, 2011 at Calbuzz.

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