May 9, 2013
\nNewsfix
\nWritten by Scott Detrow<\/p>\n
California\u2019s state government may be turning the corner from a painful recession, but Assembly Speaker John Perez is already thinking about the next one. The Los Angeles Democrat wants to start setting aside money in a rainy day fund, so legislators aren\u2019t faced with deep spending cuts the next time the economy goes south.<\/p>\n
California’s Capitol (Justin Sullivan\/Getty Images)<\/p>\n
That\u2019s one of several budget priorities Perez laid outduring an interview this week with The California Report.<\/a><\/p>\n Just like Gov. Jerry Brown, Speaker Perez isn\u2019t getting too excited about\u00a0the additional $4.5 billion of \u00a0tax revenue<\/a>\u00a0that California collected this year. The better-than-expected tax haul has led to talk about restoring years\u2019 worth of cuts in education and other state programs, but Perez said that conversation is premature.<\/p>\n \u201cThis does not mean that in the out year we\u2019re going to continue to have extra amounts of money,\u201d said Perez, pointing out the revenue is less than the $7 billion of new taxes that Propositions 30 and 39 generated.\u00a0“So we have to be responsible in using this money that is short-term money differently than long-term money.\u201d May 9, 2013 Newsfix Written by Scott Detrow California\u2019s state government may be turning the corner from a painful recession, but Assembly Speaker John Perez is already thinking about the next one. The Los Angeles Democrat wants to start setting aside money in a rainy day fund, so legislators aren\u2019t faced with deep spending cuts … Continue reading Perez Pushes Rainy Day Fund and Scholarship Plan<\/span>
\nPerez wants to use the money for one-time expenses, like paying off debt.
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