Gov. Jerry Brown’s January budget proposal is just around the corner, and it’s the event every lawmaker, lobbyist and chief financial officer in your life will be talking about over the holidays. Want to join them? Here are five things to watch.
The Legislature’s nonpartisan fiscal analyst suggests ways that California could craft a state version of the federal Earned Income Tax Credit. The move would help low-income Californians, but cost the state $400 million to roughly $1 billion
A surge in personal income in the fourth quarter of 2012 was the main driver of a much lower-than-expected state appropriations limit for 2014-15, which contributed to Senate layoffs last month. For 2015-16, the limit is expected to be higher, which would allow greater increases in legislative budgets.
California State Controller John Chiang has a plan to pay down future retiree medical expenses that will cost the state $71.8 billion, according to his latest estimate. Gov. Jerry Brown’s budget proposal, expected out before Jan. 10, will include “a plan to address this unfunded liability – and sustain health benefits for retirees for the long term,” according to the Department of Finance.
Gov. Jerry Brown’s latest California Supreme Court nominee isn’t likely to run into serious resistance at her confirmation hearing next week, but criticism of Leondra Kruger’s residency (out of state) and judicial experience (none) has brought Brown to her defense.