Bigelow, Borgeas And Others Push For Restoring Rainy Day Money ...Middle East
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Sacramento, CA — 26 Republican lawmakers sent a letter to Governor Gavin Newsom calling for him to replenish $7.8 billion taken from the state’s rainy day fund during the COVID-19 pandemic. The money was removed when California was facing a projected $54.3 billion budget deficit. Things have turned around financially, and the state now has a $76-billion surplus. Voter approved Proposition 2 requires state government to annually set aside 1.5-percent of General Fund revenues for the rainy day fund, and Mother Lode Republicans like Senator Andreas Borgeas and Assembly Frank Bigelow are advocating for paying back the $7.8 billion as well. The letter states, “The COVID-19 pandemic demonstrated t
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