California is forecasted to receive $31 billion in surplus according to today’s Fiscal Outlook by the non-partisan Legislative Analyst. Vice Chair of the Assembly Budget Committee, Assemblyman Vince Fong (R-Kern County) issued the following statement regarding the Legislative Analyst’s Fiscal Outlook for 2022-2023:
“Today’s revenue outlook for the state clearly illustrates the divide in our economy and workforce. Taxes being collected from hardworking Californians and businesses account for the $31 billion surplus, while Californians are being crushed by an affordability crisis worsened by inflation, over 1.4 million Californians are jobless, and small businesses are still struggling.
“It’s time to prioritize how to make California work for all of its people.
“State leaders must prioritize the surplus revenue to invest in the critical issues that are impacting all Californians – needed water storage, a reliable supply chain and permanent tax relief – to build a healthy economy and keep Californians and businesses in our state.
“It is important to underscore that California’s healthy fiscal outlook does not mean our economy is doing well. As we enter another budget year, we need to make needed long-term investments that Californians are demanding.”