"The Administration's initial step to freeze spending is not enough. The budget hole is simply too massive. The Legislature must come back to take action to implement the cuts. The Legislative Analyst's Office reports revenues to be $26 billion below 2022-23 revenue estimates, and anticipates collections to be $58 billion below Budget Act projections across 2022-23 to 2024-25," the letter reads in part.
State lawmakers have said that "everything is on the table right now" to determine how to address the projected deficit, including the possibility of declaring a fiscal emergency, giving the Legislature access to $24 billion in general purpose reserves.
[
add
]
[
|
|
...
]