Ting Issues Statement on LAO's Fiscal Outlook for 2019-20
(San Francisco, CA) – Assemblymember Phil Ting (D-San Francisco), Chair of the Assembly Budget Committee, released the following statement in response to the Legislative Analyst’s Office’s (LAO) fiscal outlook for 2019-20:
California’s strong economy has enabled us to erase budget deficits and make significant progress in affordable housing, education, poverty reduction and other priorities while boosting our rainy day fund. I’m glad to see the fiscal outlook is still bright for the state, but the LAO report also warns we don’t have enough saved up to weather a recession. We must make smart investments and proceed with caution to protect programs for the long-run. No one wants to relive the devastating budget cuts we were forced to make only a short time ago.
The LAO report can be found here.
# # # # # #