California braces for repeat of last fiscal crisis
The emergency budget session, called by Schwarzenegger, will not tackle the entire $20 billion deficit that is projected over the next year and a half. It will target the $6 billion shortfall in the current year, leaving longer-term funding for core services such as public schools, colleges and health services in a state of uncertainty.
Democrats are searching for ways to sidestep the rule that requires a two-thirds vote of the Legislature for tax increases and to pass state budgets.
Repeat. This is not a revenue problem, this is a spending problem and no amount of taxing authority will fix it. If the Democrats succeed in obviating the 2/3rds requirement the exodus of business and upper income people will be breathtaking.