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GOVERNMENT RELATIONS


New Governor and a New Budget N


By Felipe Fuentes, AGC Legislative Advocate


ewly elected Governor Newsom released his first state budget on January 10,


2019. A $209 billion-dollar total budget – $144 billion coming from the General Fund – is a record high proposal for the state. Once again, California’s budget is larger than all but four nations. Understanding the strong fiscal


footing with which he begins, the Governor has pledged to use one-time expenditures to buy down some of the “wall of debt” exemplified by Gov. Brown. In fact, his proposal plans on 86 percent of new spending to be on one-time expenditures. Given that recessions hit California harder than other states, Gov. Newsom is focused on dealing with old debt, including some of the state’s unfunded pension liabilities. Coining the term “budget


resiliency,” the budget proposal goes on to pay off long-standing budgetary debts and further fortifies the state’s rainy-day fund in anticipation of a future downturn. As for ongoing programmatic


expenditures, the budget makes increases to early education and the health and human services safety net. Te Governor’s inaugural budget seems to be focused on reducing California’s notoriety as having the highest poverty rate in the country.


California’s Poverty Rates Te Governor’s budget proposal


includes doubling the state earned income tax credit, full day universal preschool and an eventual goal to have the state offer up to six months of paid parental family leave. During his budget press conference, Gov. Newsom emphasized that more needs to be done to address the cost of living in the state


and thereby reduce the poverty rate in California. His budget proposal under- scores the importance of housing as the chief driver of the high cost of living in


the state. Specifically, he suggests:  To increase the low-income housing tax credit from $80 million to $500 million per year.


 A $500 million increase to the California Housing Finance Agency mixed-income loan program.


 Rewarding cities who meet housing goals set by the state.


Te most interesting, and contro- versial, element of the announced housing approach is the devel- opment of a long-term statewide housing production strategy. Te administration plans on revamping the current regional housing needs assessment process, which informs


Continued on page 6


BUILD BETTER BUILD SAFER BUILD


Skilled Laborers are trained to do things the safe way and the right way, helping the contractors for whom they work stay safe,          safety-related training programs of interest to safety-conscious contractors:    “Turn-key” training programs  Safety and health classes  


Southern CA (626) 350-6900 


Northern CA (925) 469-6800


 www.AGC-CA.org Associated General Contractors of California 5


with


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