Posts by Edelstein Gilbert Robson & Smith

by Edelstein Gilbert Robson & Smith, LLC  This was a busy week in Sacramento. The Legislature passed a budget, acted on several high-profile bills, and the Assembly adjourned for a summer recess.  Oversight? When the Legislature returned several weeks ago despite the guidance of public health officials to keep nonessential workers home, we explained that…

The Governor and the Legislature continue to negotiate on a budget that would resolve the state’s $54 billion deficit. The state Constitution requires the legislature to pass a balanced budget by June 15 or not get paid. Recognizing this leadership in the Assembly and Senate announced Wednesday that they would adopt their version of the…

As we have reported previously, Governor Newsom released his May Revision to the Budget on May 14, announcing that the state is facing a $54 billion deficit.  The May Revise proposes to balance the budget with a mix of reserves, internal borrowing, federal funding, and short-term revenues.  However, the backbone of the Governor’s May Revise…