This morning the governor released his proposed 2017-18 state budget. The entire budget can be found at the Department of Finance (DOF) website. AICCU issued a public response to the governor’s budget.
Among the highlights:
General budget overview
· The General Fund (GF) expenditures for 2017-18 is proposed to be $122.5 billion, $241 million less than the final 2016-17 budget.
· There is expected to be a nearly $2 billion budget deficit, reflecting a drop in revenues.
· Across the board, each of the state’s “big three” revenues—the income, sales, and corporation taxes—are showing weakness and the governor continues to preach prudence.
· The governor proposes to stem the deficit through a pull-back of one-time spending commitments made …