Joint committee to reduce appropriations
A special joint meeting of the Assembly Ways and Means and Senate Finance Committees is being convened this morning to resolve the differences between revenues and spending bills that have already been passed by the legislative majority. The majority has approved spending that is nearly $1 billion in excess of Governor Brian Sandoval's Executive Budget proposal, which already planned to significantly outspend available revenues.
A detailed analysis of the majority party's additions to the Executive Budget is available here.
The majority has proposed $1.2 billion in new taxes to finance the additional spending they'd like to see, but has been unable to achieve the necessary two-thirds support for those proposals. At this time, it looks like those tax ideas are dead.
We'll see what additional clarity can be gleaned from today's meeting...
