Gov. Jerry Brown will propose a budget today that relies on $12.5 billion in spending cuts over the next 18 months and higher taxes over the next five years to solve the state budget deficit, his office announced this morning.
"These cuts will be painful, requiring sacrifice from every sector of the state, but we have no choice," Brown said in a statement. "For 10 years, we've had budget gimmicks and tricks that pushed us deep into debt. We must now return California to fiscal responsibility and get our state on the road to economic recovery and job growth."
Brown's budget will include an 8 to 10 percent cut in state worker pay. According to his press release, Brown wants to save "$308 million for a 10 percent reduction in take-home pay for state employees not currently covered under collective bargaining agreements."
The Democratic governor will ask voters in a June special election to approve higher tax rates on sales, vehicles and income for five years. In his statement today, Brown referred to it as "a five-year extension of several current taxes so that we can restructure in an orderly manner." But critics are sure to call them
Read more: http://blogs.sacbee.com/capitolalertlatest/2011/01/brown-to-ask-for-deep-cuts-fiv.html#ixzz1AesdgdZ3