22 Hrs
Source:
Los Angeles Times
California Prop 2 voter guide on reserve funds and rebates
California is placing Proposition 2 on the November ballot to allow the state to increase its savings and reserves by exempting deposits into rainy day funds from existing spending limits. The measure aims to boost the rainy day fund cap from 10% to 20% of general fund revenue and provide more flexibility for lawmakers to allocate surplus revenue to reserves instead of taxpayer rebates. Supporters, including Governor Newsom and Democrats, say it will help the state better manage economic fluctuations, while opponents argue it could lead to increased government spending without sufficient accountability.
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