Assembly Budget Committee Responsible Budget Priorities 2017 18

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Assembly Budget Committee Responsible Budget Priorities 2017 -18 Assemblymember Phil Ting, Chair Assembly Budget

Assembly Budget Committee Responsible Budget Priorities 2017 -18 Assemblymember Phil Ting, Chair Assembly Budget Committee

Responsible Budget Priorities – 2017 -18 Introduction • Summary of Budget Priorities: 1. Strengthening

Responsible Budget Priorities – 2017 -18 Introduction • Summary of Budget Priorities: 1. Strengthening California’s Fiscal Health; 2. Protecting California Values from Harmful Federal Actions; and 3. Making Responsible New Budget Investments. 2

Responsible Budget Priorities – 2017 -18 Strengthening California’s Fiscal Health • California’s fiscal health

Responsible Budget Priorities – 2017 -18 Strengthening California’s Fiscal Health • California’s fiscal health is in the best shape in decades. 3

Responsible Budget Priorities – 2017 -18 Strengthening California’s Fiscal Health Assembly Budget Committee will

Responsible Budget Priorities – 2017 -18 Strengthening California’s Fiscal Health Assembly Budget Committee will craft a budget that: • Avoids mistakes of past that caused decade of deficits. • Builds Reserves to record levels of over $15 billion to cushion impacts of next downturn. Historic and Projected Reserves Largest Reserves in Recent State History (in billions) 1985 -86 1986 -87 1987 -88 1888 -89 1989 -90 1990 -91 1991 -92 1992 -93 1993 -94 1994 -95 1995 -96 1996 -97 1997 -98 1998 -99 1999 -00 2000 -01 2001 -02 2002 -03 2003 -04 2004 -05 2005 -06 2006 -07 2007 -08 2008 -09 2009 -10 2010 -11 2011 -12 2012 -13 2013 -14 2014 -15 2015 -16 2016 -17 2017 -18 2018 -19 2019 -20 2020 -21 $20 $18 $16 $14 $12 $10 $8 $6 $4 $2 $0 Reflects LAO Forecast & $1 billion of Ongoing Spending Added in 2017 -18 4

Responsible Budget Priorities – 2017 -18 Protecting CA Values from Federal Actions • Assembly

Responsible Budget Priorities – 2017 -18 Protecting CA Values from Federal Actions • Assembly Budget Committee will craft a budget that protects – to the extent possible – from the negative impacts of changing federal policies and laws: • Immigration • Health Care • Climate Change 5

Responsible Budget Priorities – 2017 -18 Making Responsible New Budget Investments 1. Assisting areas

Responsible Budget Priorities – 2017 -18 Making Responsible New Budget Investments 1. Assisting areas of the State still not recovered from the Great Recession. 2. Expanding the Earned Income Tax Credit (EITC) to serve more working families. 3. Taking next step in improving Early Education by expanding access and requiring Full Day Kindergarten throughout the entire state. 4. Establishing a program framework for phasing in “Debt Free College Education”. 5. Provide funding to assist with affordable housing and homelessness prevention. 6

Responsible Budget Priorities – 2017 -18 Conclusion • Significant uncertainties exist as we enter

Responsible Budget Priorities – 2017 -18 Conclusion • Significant uncertainties exist as we enter the 2017 -18 budget process. • Unlike the past several decades, California is better prepared to enter troubled times. • As the 2017 -18 budget process commences, the top priorities for the Assembly Budget Committee will be: 1. Strengthening California's Fiscal Health; 2. Protecting CA Values from Harmful Federal Actions; and 3. Making responsible new budget investments. 7