Republican Legislators Call for Spending Limit, Rainy Day Fund

Today Senate Republican Leader Dave Cogdill, Assembly Republican Leader Mike Villines and the members of their caucuses rolled out an ambitious reform plan aimed at ending perpetual budget crises in California by reforming the state's "broken budget system." The plan includes a limit on increases in state spending, and the creation of a rainy day fund to offset shortfalls when state revenue drops.

Republicans have consistently called for these common sense reforms, offering solid solutions to the structural problems in state government. This includes Governor Schwarzenegger's own calls for limits on state spending, including in the form Proposition 76 in 2005, and alternatively, a limit based on the 10 year rolling average in state income.

The case for Republican legislators' proposal is outlined in an op-ed in today's Sacramento Bee. Read it here.