California Conservative

Update: FAILED. Voters did not approve.
Should Californians make major Constitutional changes to create an additional state spending limit, grant the governor substantial new power to unilaterally reduce state spending, and revise key provisions relating to Proposition 98, school and community college funding, and transportation funding authorized by Proposition 42?

Proposition 76
State Spending and School Funding Limits
State of California — Initiative Constitutional Amendment

A YES vote on this measure means:
State expenditures would be subject to an additional spending limit based on an average of recent revenue growth. The Governor would be granted new authority to unilaterally reduce state spending during certain fiscal situations. School and community college spending would be more subject to annual budget decisions and less affected by a constitutional funding guarantee.

SmartVoter.org has all the details.

Prop. 76 is the bipartisan solution that forces the state to live within its means:
(via Secretary of State; Analysis)

Here’s what it will do:

• Limits spending to the average rate of tax growth of the past three years, so we don’t overspend in good times followed by huge deficits in bad times.
• Establishes “checks and balances” to encourage the Governor and Legislature to work together. When tax revenue slows, the Legislature can cut wasteful spending to balance the budget. If the Legislature doesn’t act, the Governor can then cut wasteful spending, while protecting funding for education, public safety, and roads.
• Stabilizes K-14 education spending. By cutting wasteful spending and balancing the budget, we’ll have more funds to spend on what the state needs, without raising taxes.
• Stops the autopilot spending binge and holds the politicians accountable.
• Guarantees that taxes dedicated for highways and roads are spent on those projects and never again raided to balance the budget.

Additional voter resources:

Yes on 76: Live Within Our Means Act
joinarnold.com

Governor Schwarzenegger’s Newsroom:
Read the Initiative
Ballot Arguments
Endorsements
News & Editorials
Speeches & Videos

Easy Voter Guide
Since 1996, nonpartisan election information

Legislative Analyst’s Office
Nonpartisan fiscal and policy advisor

How much money is being raised and spent to pass or defeat California propositions and ballot measures, and what are the sources of the money?
California Secretary of State
Check here to follow the money trail.

Search online: Proposition 76
Yahoo! and Google

Register to vote

RELATED:
November 8th: California’s Special Election
and Gov. Schwarzenegger’s Initiatives

San Diego Union-Tribune: Beyond shameless
Ad attacks on Prop. 76 are utterly dishonest

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This entry was posted on Tuesday, November 1st, 2005 at 5:16 pm and is filed under Arnold, California, Economy, Elections. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.