Senate leader hails new era for California, plans for surpluses (LA Times)

December 3, 2012 – State Senate Leader Darrell Steinberg (D-Sacramento) said Monday that after years of grappling with large budget deficits, state finances are under control and lawmakers can focus on new proposals to improve the state and its economy. “I really believe this is the end of one very difficult era in California and the beginning of a new and better era”’ he said at the Capitol after the Legislature gaveled in its new two-year session. There is a chance that the state will begin to see budget surpluses in a few years, and Steinberg proposed that one-third of any surplus go to a rainy-day fund, one-third to paying down the state’s debt and a like amount to restoring social service and education programs cut during the last five years. “There is a lot of need out there,” he said.

Link to Full Article: http://latimesblogs.latimes.com/california-politics/2012/12/new-california-legislature.html

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