Special Session Update—November 19, 2008
No official actions were taken in the special session on the Budget for today, Wednesday, November 19. The “Big 5 (or 6)” were supposed to have met earlier in the day, but we have not heard anything about the outcome of that meeting. Floor sessions are still scheduled for this Sunday, November 23, 2008, beginning at noon for the Assembly and at 4:00 p.m. for the Senate.
Tomorrow, November 20, 2008, the nonpartisan Legislative Analyst’s Office (LAO) will release a report on the state’s long-term fiscal outlook. Much of what will be presented was already part of the LAO’s report on the Governor’s midyear proposals to cut state spending and raise revenues. Nevertheless, this report will provide more detail on the LAO’s demographic, economic, and Budget projections for California for 2008-09 through 2013-14. A copy of the report will be available on the LAO’s website at www.lao.ca.gov.
—Robert Miyashiro