Dealing With 'Brutal' Shortfalls, Davis Readies California Revision

Finestone, Deborah
May 2003
Bond Buyer;5/13/2003, Vol. 344 Issue 31634, p6
Trade Publication
Nearly every state across the nation is dealing with budget shortfalls by using every possible action available, a national budget analyst said on May 12, 2003, during a conference call set up by California Governer Gray Davis' office as a preview to his proposed budget revision, which is coining on May 14. “Every state is using every possible budget action available in their toolbox, including budget cuts to highly popular programs like education and health services, varying degrees of tax increases, and closing loopholes.” In January, Davis proposed approximately eight billion dollars in higher income, cigarette, and sales taxes, which minority Republican leaders immediately shot down.


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