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Golden State Could have $25 Billion Deficit in 2023-24 Fiscal Year
By McKenzie Jackson, California Black Media California’s government may have a faceoff with a $25 billion budget shortfall in the upcoming fiscal year as tax revenues decline, according to a report issued by the state’s nonpartisan Legislative Analyst’s Office (LAO). During a Nov.16 video press briefing, Legislative Analyst Gabriel Petek said that if the predicted […]
The post Golden State Could have $25 Billion Deficit in 2023-24 Fiscal Year first appeared on BlackPressUSA.
By McKenzie Jackson, California Black Media
California’s government may have a faceoff with a $25 billion budget shortfall in the upcoming fiscal year as tax revenues decline, according to a report issued by the state’s nonpartisan Legislative Analyst’s Office (LAO).
During a Nov.16 video press briefing, Legislative Analyst Gabriel Petek said that if the predicted downturn happens, it will be the Golden State’s weakest revenue performance since the 2008 to 2009 Great Recession.
“It is not insignificant, but it is also manageable,” Petek said. “We don’t think of this as a budget crisis. We just think of it as a notable budget problem that the Legislature will have to confront when it begins that process in January.”
The LAO, the state Legislature’s fiscal and policy advisor, details the budget shortfall and suggests ways to avoid it in the 20-page “The 2023-24 Budget: California’s Fiscal Outlook.”
The document is released yearly around this time to help guide California lawmakers as they begin to put together budget proposals for the upcoming fiscal year.
Petek said the threat of a national recession and actions by the Federal Reserve played a hand in the report’s outlook, but the predicted numbers are not based on a recession occurring.
“Economic conditions are really weighing on the revenue estimates that are a major influencer of our fiscal output,” Petek said. “With elevated inflation that causes the Fed to have to take action to cool down the economy in its effort to bring down inflation. The longer and the higher inflation remains, the more aggressive the Fed has to be. And the more aggressive the Fed has to be, it really increases the risk that the economy will fall into a recession. So, that being said, our revenue estimates do not assume a recession.”
California taxes wealthy people more than other states, so most of the revenue decline is because the rich aren’t making as much money as they used to. The report details that California could see deficits between $8 billion to $17 billion in the following years.
Less spending on large, one-time allocations is one way the state can offset the revenue losses it is expected to experience.
In response to the LAO budget prediction, Assembly Speaker Anthony Rendon (D-Lakewood) said the state has budget resiliency — $37.2 billion in reserves.
“We can and will protect the progress of the recent year’s budgets,” Rendon said. “In particular, the Assembly will protect California’s historic school funding gains, as districts must continue to invest in retaining and recruiting staff to help kids advance and recover from the pandemic.”
State Senate Pro Tempore Toni Atkins (D-San Diego) said that in the past, the dreary budget forecast would have meant program cuts and middle-class tax increases.
“That does not have to be the case this year,” Atkins said. “Thanks to our responsible approach, we are confident that we can protect our progress and craft a state budget without ongoing cuts to schools and other core programs or taxing middle class families. The bottom line is simple: we are prepared to hold onto the gains we’ve made and continue where we left off once our economy and revenues rebound.”
Petek recommended that legislators not look to the reserves to solve the budget paucity when they begin formulating the state spending plan in early 2023.
“It would be prudent to try and identify other solutions in the early part of the budget period, and then if and when we have a lot more information about the economic situation — if revenues have deteriorated for example or if there were a recession, we are certainly not saying don’t use the reserves,” he said. “We are saying, keep them on hold and you have them to turn to in that situation if the picture has gone south in May. You have the reserves that we can tap into to really help supplement the other solutions identified earlier in the process.”
Republican Assemblymember Vince Fong (R-Bakersfield) said the report is a wakeup call.
“California’s economy is weakening, and now with persistent inflation, the revenue that is coming into the State of California is coming in way below projection,” Fong said. “As someone who has been on the budget committee for a number of years, we have been warning about this. The ruling party in Sacramento continues to spend and grow government programs without any accountability and the budget is completely unsustainable. We have to refocus on fiscal responsibility.”
LAO’s budget forecast comes on the heels of Gov. Gavin Newsom and the Democratic-controlled Legislature estimated $97 billion surplus that led to the expansion of Medi-Cal eligibility to all immigrants in 2024, a boost in the earned income tax credit, and free preschool for 4-year-olds.
A relief package, priced at $17 billion, to help families, seniors and low-income Californians and small businesses was also approved in June by lawmakers.
The surplus is gone once a budget is passed, according to the LAO, so the fiscal outlook provided to legislators assumes that current state laws and policies will remain in place.
“We make adjustments for caseloads and things that influence the budget expenditures, but if you keep the same policies what would your budget picture look like?” Petek said. “That is what we are trying to tee up for them as they await the governor’s proposal.”
The post Golden State Could have $25 Billion Deficit in 2023-24 Fiscal Year first appeared on Post News Group. This article originally appeared in Post News Group.
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IN MEMORIAM: Ramona Edelin, Influential Activist and Education Advocate, Dies at 78
NNPA NEWSWIRE — Born on September 4, 1945, in Los Angeles, California, activist Ramona Edelin’s early years were marked by a commitment to education and social justice. According to her HistoryMakers biography, after graduating from Fisk University with a Bachelor’s degree in 1967, she pursued further studies at the University of East Anglia in England. She earned her master’s degree before completing her Ph.D. at Boston University in 1981.
The post IN MEMORIAM: Ramona Edelin, Influential Activist and Education Advocate, Dies at 78 first appeared on BlackPressUSA.
By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia
Once upon a time, Black Americans were simply known as colored people, or Negroes. That is until Ramona Edelin came along. The activist, renowned for her pivotal roles in advancing civil rights, education reform, and community empowerment, died at her D.C. residence last month at the age of 78. Her death, finally confirmed this week by Barnaby Towns, a communications strategist who collaborated with Dr. Edelin, was attributed to cancer.
Born on September 4, 1945, in Los Angeles, California, Edelin’s early years were marked by a commitment to education and social justice. According to her HistoryMakers biography, after graduating from Fisk University with a Bachelor’s degree in 1967, she pursued further studies at the University of East Anglia in England. She earned her master’s degree before completing her Ph.D. at Boston University in 1981.
Edelin’s contributions to academia and activism were manifold. She was pivotal in popularizing the term “African American” alongside Rev. Jesse L. Jackson in the late 1980s.
Jackson had announced the preference for “African American,” speaking for summit organizers that included Dr. Edelin. “Just as we were called Colored, but were not that, and then Negro, but not that, to be called Black is just as baseless,” he said, adding that “African American” “has cultural integrity” and “puts us in our proper historical context.”
Later, Edelin told Ebony magazine, “Calling ourselves African Americans is the first step in the cultural offensive,” while linking the name change to a “cultural renaissance” in which Black Americans reconnected with their history and heritage.
“Who are we if we don’t acknowledge our motherland?” she asked later. “When a child in a ghetto calls himself African American, immediately he’s international. You’ve taken him from the ghetto and put him on the globe.”
The HistoryMakers bio noted that Edelin’s academic pursuits led her to found and chair the Department of African American Studies at Northeastern University, where she established herself as a leading voice.
Transitioning from academia to advocacy, Edelin joined the National Urban Coalition in 1977, eventually ascending to president and CEO. During her tenure, she spearheaded initiatives such as the “Say Yes to a Youngster’s Future” program, which provided crucial support in math, science, and technology to youth and teachers of color in urban areas. Her biography noted that Edelin’s efforts extended nationwide through partnerships with organizations like the National Science Foundation and the United States Department of Education.
President Bill Clinton recognized Edelin’s expertise by appointing her to the Presidential Board on Historically Black Colleges and Universities in 1998. She also co-founded and served as treasurer of the Black Leadership Forum, solidifying her standing as a respected leader in African American communities.
Beyond her professional achievements, Edelin dedicated herself to numerous boards and committees, including chairing the District of Columbia Educational Goals 2000 Panel and contributing to the Federal Advisory Committee for the Black Community Crusade for Children.
Throughout her life, Edelin received widespread recognition for her contributions. Ebony magazine honored her as one of the 100 Most Influential Black Americans, and she received prestigious awards such as the Southern Christian Leadership Award for Progressive Leadership and the IBM Community Executive Program Award.
The post IN MEMORIAM: Ramona Edelin, Influential Activist and Education Advocate, Dies at 78 first appeared on BlackPressUSA.
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Tennessee State University Board Disbanded by MAGA Loyalists as Assault on DE&I Continues
NNPA NEWSWIRE — Recent legislative actions in Tennessee, such as repealing police reform measures enacted after the killing of Tyre Nichols, underscore a troubling trend of undermining local control and perpetuating racist agendas. The new law preventing local governments from restricting police officers’ authority disregards community efforts to address systemic issues of police violence and racial profiling.
The post Tennessee State University Board Disbanded by MAGA Loyalists as Assault on DE&I Continues first appeared on BlackPressUSA.
By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia
Tennessee State University (TSU), the state’s only public historically Black college and university (HBCU), faces a tumultuous future as Gov. Bill Lee dissolved its board, a move supported by racist conservatives and MAGA Republicans in the Tennessee General Assembly, who follow the lead of the twice-impeached, four-times indicted, alleged sexual predator former President Donald Trump. Educators and others have denounced the move as an attack on diversity, equity, and inclusion (DE&I) and a grave setback for higher education.
Critics argue that TSU’s purported financial mismanagement is a manufactured crisis rooted in decades of underinvestment by the state government. They’ve noted that it continues a trend by conservatives and the racist MAGA movement to eliminate opportunities for Blacks in education, corporate America, and the public sector.
Gevin Reynolds, a former speechwriter for Vice President Kamala Harris, emphasizes in an op-ed that TSU’s financial difficulties are not the result of university leadership because a recent audit found no evidence of fraud or malfeasance.
Reynolds noted that the disbanding of TSU’s board is not an isolated incident but part of a broader assault on DE&I initiatives nationwide. Ten states, including Tennessee, have enacted laws banning DE&I policies on college campuses, while governors appointing MAGA loyalists to university trustee positions further undermine efforts to promote inclusivity and equality.
Moreover, recent legislative actions in Tennessee, such as repealing police reform measures enacted after the killing of Tyre Nichols, underscore a troubling trend of undermining local control and perpetuating racist agendas. The new law preventing local governments from restricting police officers’ authority disregards community efforts to address systemic issues of police violence and racial profiling.
The actions echo historical efforts to suppress Black progress, reminiscent of the violent backlash against gains made during the Reconstruction era. President Joe Biden warned during an appearance in New York last month that Trump desires to bring the nation back to the 18th and 19th centuries – in other words, to see, among other things, African Americans back in the chains of slavery, women subservient to men without any say over their bodies, and all voting rights restricted to white men.
The parallels are stark, with white supremacist ideologies used to justify attacks on Black institutions and disenfranchise marginalized communities, Reynolds argued.
In response to these challenges, advocates stress the urgency of collective action to defend democracy and combat systemic racism. Understanding that attacks on institutions like TSU are symptomatic of broader threats to democratic norms, they call for increased civic engagement and voting at all levels of government.
The actions of people dedicated to upholding the principles of inclusivity, equity, and justice for all will determine the outcome of the ongoing fight for democracy, Reynolds noted. “We are in a war for our democracy, one whose outcome will be determined by every line on every ballot at every precinct,” he stated.
The post Tennessee State University Board Disbanded by MAGA Loyalists as Assault on DE&I Continues first appeared on BlackPressUSA.
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Braxton Haulcy and the Expansion of Walker|West Music Academy
May 24, 2023 – Walker West Music Academy gets an early start on expansion. Join us for a Wednesday episode of The …
The post Braxton Haulcy and the Expansion of Walker|West Music Academy first appeared on BlackPressUSA.
May 24, 2023 – Walker West Music Academy gets an early start on expansion. Join us for a Wednesday episode of The …
The post Braxton Haulcy and the Expansion of Walker|West Music Academy first appeared on BlackPressUSA.
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