Prop 19 went down in smoke, but the world’s fifth biggest economy passed three propositions that address its yearly budget crisis.
One makes it better and two make it worse, according to Bond Buyer.
First, California voters passed Prop 25 to allow the legislature to pass a state budget without a 2/3 supermajority. This was the main obstacle to passing a budget this year for over 100 days past due. Arkansas and Rhode Island are the only states that still require a supermajority to pass the budget, and Rhode Island is another fiscal disaster.
Second, California voters passed Prop 26 to force the legislature to have a supermajority to levy new fees. Whoops.
Third, they passed Prop 22 to limit the state’s ability to shift funds from local governments and agencies. Whoops again. Overpaid and corrupt local governments and powerful agencies are probably the number one thing bankrupting California every year.
Have fun, Jerry Brown!
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