Sacramento - Assemblymember Phil Ting (D-San Francisco), Chair of the Assembly Budget Committee, released the following statement about California’s latest Fiscal Outlook from the Legislative Analyst’s Office (LAO):
Even though the state’s forecast projects a one-time surge in revenues, it also estimates large operating deficits in the near future. We cannot take our eye off the ball. Challenges related to COVID-19 remain, and while the wealthiest individuals and corporations have gotten richer during the pandemic, there are millions more struggling Californians and businesses that need support to weather ongoing economic uncertainty. That includes shoring up vital programs by reversing some of last year’s budget cuts and canceling scheduled funding suspensions, as well as preventing further reductions to core services.
The improved fiscal outlook gives us a little breathing room, but we still need help from the federal government to allow us to keep working on economic recovery, reopening schools, homelessness, rent relief, the climate crisis and wildfire prevention. I will be releasing the Assembly Budget Blueprint next month that will spell out our priorities in the coming year. I look forward to working with the Governor and the Senate in crafting a responsible spending plan that addresses the needs of all Californians.
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