Another grim forecast for California's housing market. One industry trade group is predicting a further surge in foreclosures in the New Year. Also, the state's low-carbon fuel standards are up for review.
Fiscal developments dominate the news in California today, regarding both state spending and pension costs. Little of it is good news.
Early polling suggests that Governor Brown’s package of tax increases to close the state’s budget gap is being viewed favorably by voters. Meanwhile, in the Assembly, one lawmaker is pushing to include public health considerations in local land use and transportation planning.
California’s other budgetary shoe is due to drop this week, regarding what additional spending cuts will kick in due to state revenues that are coming in below last summer’s optimistic projections. Movement on the challenge to the state’s redistricting maps is also imminent.
Calling the latest revenue figures for the California state budget “good news” might be overstating them. But at least they represent some “not as bad as it could be” news. PLus more on the first ballot initiative to qualify for next June's primary election.
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