Jan. 10, 2017
Issue #2

Editor's Note

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Governor Unveils Proposed FY 2017-18 Budget with $1.6 Billion Deficit Projected

Proposal Includes $4.3 Billion for Transportation but No New Funding for Affordable Housing

Volatility and prudence were the words of the day during Gov. Jerry Brown’s annual January budget release press conference in Sacramento this morning. Similar to recent years, the Governor repeatedly cautioned about the dangers of overspending and the pending recession that will likely follow the last eight years of economic expansion. His words were stronger this year because after four years of balanced budgets with small budget surpluses, this one projects a $1.6 billion deficit for the fiscal year that starts July 1. The proposed FY 2017-18 budget he unveiled includes $122.5 billion General Fund and $179.5 billion total spending. 

Revenue and Taxation, State Budget
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