Out of Their Minds: October
From October 2005
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Budget Reform Battle
Can The Live Within Our
Means Act Level Seesaw Spending
By Harrison Sheppard
The centerpiece of Gov. Schwarzenegger’s reform agenda, The California Live Within Our Means Act, will appear on the Nov. 8 special-election ballot. The measure proposes several changes to California’s state budgeting process in an effort to rein in seesaw spending and give the governor more power to cut the budget.
One of its changes is to restrict spending growth to an average of the previous three years of revenue growth, in an effort to smooth out the peaks and valleys of state revenue growth. It also would allow the governor to make midyear budget cuts without legislative approval. Additionally, it changes the formulas of Proposition 98, the education funding guarantee, to limit the potential for education to become a growing portion of the state budget.
The act was written and placed on the ballot by the pro-business group Citizens to Save California. Joel Fox is a co-chair of the group, along with California Chamber of Commerce President Allan Zaremberg. Fox is president of the Small Business Action Committee and former president of the Howard Jarvis Taxpayers Association.
Continued...
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