Two weeks ago, Governor Brown unveiled his proposed budget for the 2014-2015 fiscal year, which includes an additional $10 billion in new spending for K-12 schools, $2.9 billion each to the CSU and UC, and modest increases to fund the expansion of health care coverage and other social services. This is welcome news to student, families, and advocates across the state.
However, this budget, much like every other budget since 1978, relies heavily on revenue from income taxes and capital gains. In other words, revenue that is unstable and may well decrease again in future years. It's a vicious cycle of boom and bust that California has suffered through for many decades now.
We commend Governor Brown for reinvesting in California education, and we appreciate that he does recognize the volatility of the new revenue in the budget. However, relying on back-up emergency funds when revenues decrease is simply not good enough.
The best permanent, long-term solution to our budget crisis is Prop. 13 reform. Prop. 30 funds will expire in just a few years. California cannot solve its long-term budget problems by relying on temporary solutions and then preparing for inevitable cuts. By regularly reassessing commercial property, we can bring back at least $6 billion a year to our state in stable revenue and close the budget deficit for good.
For too long, we have overburdened California's working families with these regressive taxes. It's time to make corporations pay their fair share, reinvest in our schools and public services, and finally restore the California Dream for everybody.