Legislative Analyst Elizabeth Hill says there’s a ten-billion dollar shortfall coming next year. Republican State Senator Bob Dutton wonders if that warrants the Governor declaring a formal fiscal emergency.
“Sometimes when people use terms like fiscal emergency it means different things to different people, and I just happen to think we’re heading into one…”
Such a declaration would allow the Governor to call the legislature into session to address the problem. But the legislative analyst told lawmakers that call is largely up to the Governor… A Deputy Finance Director who also testified says there will be more details soon on the state’s revenue picture. Schwarzenegger will release next year’s budget proposal in January.