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Category: California News

Sacramento, California - Moving to maintain the state’s precariously balanced budget, Governor Edmund G. Brown Jr. today announced that he has vetoed a package of bills that would have created new tax credits or expanded existing tax credits.

“Despite strong revenue performance over the past few years, the state’s budget has remained precariously balanced due to unexpected costs and the provision of new services,” Governor Brown said in his veto message. “Given these financial uncertainties, I cannot support providing additional tax credits that will make balancing the state’s budget even more difficult.”

The Governor vetoed the following bills today:

When Governor Brown took office in 2011, the state faced a massive $26.6 billion budget deficit and estimated annual shortfalls of roughly $20 billion. Since then, the state has eliminated these deficits with billions of dollars in cuts, an improving economy and new temporary revenue approved by California voters. Last November, voters also approved Proposition 2 to establish a Rainy Day Fund and the state is now saving billions of dollars to help prepare for the next economic downturn