Legislative Democrats and Governor Agree on Solutions that Eliminate 75 Percent of Structural Deficit
(Sacramento) - California Assembly Speaker John A. Pérez (D-Los Angeles) joined Governor Jerry Brown and Senate pro Tem Darrell Steinberg at a news conference this afternoon at the state capitol to announce a budget agreement. Speaker Pérez says the agreement — which will balance this year’s budget — will eliminate 75 percent of the state’s ongoing structural deficit, moving California towards a more stable fiscal landscape in the future.
“We began this process with a commitment to make 2011 the year we stopped reacting to the Great Recession and started the difficult work of building our way out of it,” Pérez said. “The budget agreement we have reached moves us much closer to that objective. We will pass a comprehensive, on-time budget that closes the remainder of the deficit for this year, and eliminates more than 75 percent of the structural deficit going forward.”
The agreement reached by the Democratic leaders and Governor Brown is consistent with the framework the Governor laid out in January, and it’s also consistent with the Legislative Analyst’s recommendation that the Legislature take a multi-year approach to closing the deficit.
“One of the most important aspects of this budget agreement is that it will not cause massive job losses that threaten our economic recovery,” Pérez added. “We have cast some very difficult votes, but we need to get control of our finances if we are going to be able to make the kind of long-term investments that are necessary to rebuild our shattered economy and prepare the workforce for the kinds of 21st century economy industries, like green manufacturing and biotechnology.”
Contact: Robin Swanson (916) 319-2408
Website of Speaker John A. Pérez: www.asmdc.org/speaker
Below are links to audio of Speaker Pérez:
Opening remarks from Speaker Pérez at this afternoon's news conference. (1:53) Clip from opening statement: Speaker Pérez says the budget agreement will be balanced and deal with 75% of the structural deficit. (:26) Clip from opening statement: Speaker Pérez says, most importantly the budget agreement will not damage the economy. (:07) Speaker Pérez, responding to a reporter's question, says the budget is balanced and deals with 75% of the structural deficit. (:41)