Sacramento — The Howard Jarvis Taxpayers Association filed the California Deficit Prevention Act a “spending limit” statewide ballot measure with the Secretary of State’s office late this afternoon.
“The majority party and Governor Brown have made it clear that government overspending will continue to be the cornerstone of their fiscal policies in future years” said Jon Coupal President of the Howard Jarvis Taxpayers Association. "After two boom and bust cycles in California in recent years everyone should recognize that spending restraint is necessary. But the Governor’s plan envisions higher taxes and even higher spending in the out years."
HJTA’s filing comes in the wake of the Governor’s comments rejecting the notion of structural and regulatory reforms proposed by a group of moderate Republicans. “Even the most moderate republicans had their reforms rebuffed by the Governor. Week after week month after month hard-working California families have waited for elected leadership to adopt reforms to address California’s hostile tax and regulatory climate as well as structural reforms to address systemic overspending."
The California Deficit Prevention Act would limit year-over-year state spending to the previous year’s limit adjusted for increases in inflation and population establish a 10% reserve fund and limit debt service to 6% of the state budget.
Click Here to read the initiative.