Senate Budget Vice Chair Jim Nielsen Reacts to LAO's Forecast of $26 Billion in One-time Surplus

Wednesday, November 18, 2020

California is predicted to receive $26 billion more than anticipated according to today’s report by the non-partisan Legislative Analyst. Republican Senator, Jim Nielsen (R-Tehama), issued the following statement:

“California’s state budget is projected to receive $26 billion in one-time surplus, though large on-going deficits remain ahead. This is good news for schools, and brings much relief to those in need in the short term.

“Republicans have consistently called for fiscal prudence. The future is uncertain. Over four million Californians are out of work.

“This is the right time to reverse the state’s borrowing from schools, replenish the Rainy Day Fund, pay down debt, and invest in struggling Californians.

“Mom-and-pop shops are the backbone of our economy. We need to laser focus on stimulating small employers. Small businesses create jobs. They and their employees have been crippled during this pandemic.”