Assembly Budget Committee Responsible Budget Priorities

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Presentation transcript:

Assembly Budget Committee Responsible Budget Priorities 2017-18 Assemblymember Phil Ting, Chair Assembly Budget Committee

Responsible Budget Priorities – 2017-18 Introduction Summary of Budget Priorities: Strengthening California’s Fiscal Health; Protecting California Values from Harmful Federal Actions; and Making Responsible New Budget Investments.

Responsible Budget Priorities – 2017-18 Strengthening California’s Fiscal Health California’s fiscal health is in the best shape in decades.

Responsible Budget Priorities – 2017-18 Strengthening California’s Fiscal Health Assembly Budget Committee will craft a budget that: Avoids mistakes of past that caused decade of deficits. Builds Reserves to record levels of over $15 billion to cushion impacts of next downturn.

Responsible Budget Priorities – 2017-18 Protecting CA Values from Federal Actions Assembly Budget Committee will craft a budget that protects – to the extent possible – from the negative impacts of changing federal policies and laws: Immigration Health Care Climate Change

Responsible Budget Priorities – 2017-18 Making Responsible New Budget Investments Assisting areas of the State still not recovered from the Great Recession. Expanding the Earned Income Tax Credit (EITC) to serve more working families. Taking next step in improving Early Education by expanding access and requiring Full Day Kindergarten throughout the entire state. Establishing a program framework for phasing in “Debt Free College Education”. Provide funding to assist with affordable housing and homelessness prevention.

Responsible Budget Priorities – 2017-18 Conclusion Significant uncertainties exist as we enter the 2017-18 budget process. Unlike the past several decades, California is better prepared to enter troubled times. As the 2017-18 budget process commences, the top priorities for the Assembly Budget Committee will be: Strengthening California's Fiscal Health; Protecting CA Values from Harmful Federal Actions; and Making responsible new budget investments.