Sources say the California legislature will pass a state budget Monday that hands Republicans most of their demands. Republicans make Dems and Schwarzenegger blink with: No tax increase, deeper cuts, and ability for Govenor to make mid year cuts. Also no Prop 1A or 42 borrowing, but no budget reform or caps.
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15 Republicans joined all 46 of the 48 Democrats to vote for the budget. The Republican Assembly members backing the spending plan were:
Anthony Adams
Greg Aghazarian
John Benoit
Sam Blakeslee
Paul Cook
Chuck DeVore
Bonnie Garcia
Guy Houston
Bob Huff
Rick Keene
Roger Niello
Sharon Runner
Audra Strickland
Van Tran
Mike Villines
Will they join to over ride Schwarzenegger veto?
Governor right to veto budget
Martinez, CA (September 16, 2008) – Kris Hunt, Executive Director of the Contra Costa Taxpayers Association (CoCoTax), today expressed support for Governor Schwarzenegger’s veto of the state budget.
Ms. Hunt stated, “The Governor is doing the right thing for a budget proposal that not only fails to provide much needed reform, but includes financial gimmicks that will make the state’s financial condition so much worse next year.”
She added, “This budget is the financial equivalent of the Hail Mary pass.”
For additional information, e-mail Kris Hunt.
ABOUT CoCoTax – Founded in 1937, CoCoTax is an independent, non-partisan, non-profit organization comprised of taxpayers who live or do business in Contra Costa County. CoCoTax brings the taxpayers’ perspective to the governmental scene.
California Governor Scwarzenegger to veto budget at 3:00 p.m.
http://online.wsj.com/article/SB122126219384430423.html
If taxes don’t matter, then maybe someone can explain the divergent economic paths of California and New York and America’s two other most populous states, Florida and Texas. The latter two states have no personal income tax. Personal income has been growing about 50% faster in Florida and Texas than in California and New York. (See chart.) This year Texas became the No. 1 state for Fortune 500 corporate headquarters. About a dozen of those 58 corporations once called New York or California home, and taxes are one reason they departed.
http://calitics.com/showDiary.do;jsessionid=B813279CE37E5EE0CBB933E05E17BAD5?diaryId=6935