Last week, Governor Jerry Brown signed the 2014-15 budget bill and related legislation. A new CBP report provides an initial analysis of the 2014-15 budget package, examining key provisions and their implications.
The report shows that the budget agreement places a heavy emphasis on fiscal austerity — prioritizing paying down debt and saving for a rainy day — and makes only modest progress in reinvesting in many key public systems and services that promote economic opportunity and shared prosperity.
The CBP will provide additional analysis and commentary on the 2014-15 budget package in the coming weeks.
— Steven Bliss