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The California State Budget

The California State Budget. American Political Institutions Fawn Gibson. The California State Budget. The California state budget includes economic assumptions, revenues, and expenditures. Passing the budget involves many difficult decisions and tradeoffs. The California State Budget.

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The California State Budget

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  1. The California State Budget American Political Institutions Fawn Gibson

  2. The California State Budget • The California state budget includes economic assumptions, revenues, and expenditures. • Passing the budget involves many difficult decisions and tradeoffs

  3. The California State Budget The budget is formed through four steps: • The governor formulates his budget with the help of the Department of Finance. • The legislature adopts the budget, passing it and any tax increases by a two-thirds majority in each house. The legislature has its own neutral budget office

  4. The California State Budget • The governor signs or vetoes the budget. If he signs the budget, he can use his line-item veto to lower any line item, including lowering it to zero. • The agencies implement the budget as passed

  5. The California State Budget • California’s constitution requires that the governor submit a balanced budget, but it does not require the legislature to pass one

  6. The California State Budget • The largest single source of revenue is the personal income tax • Education is the largest single expenditure; expenditures for K-12 are required by proposition 98 to be 40 percent or more of the general fund.

  7. The California State Budget • The most substantial limitations on the budget have come through initiatives passed by the voters

  8. The California State Budget • Recent California state budgets have had huge gaps between revenues and expenditures because revenues plunge when the economy goes into recession and expenditures stay the same or increase.

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