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Treasurer Chiang Issues Statement on the Passage of the FY 2015-16 California Budget

June 15, 2015

Contact: Catalina Martinez

SACRAMENTO – State Treasurer John Chiang today issued the following statement on the passage of the FY 2015-16 California State Budget.

“Because the annual spending plan is a reflection of California’s priorities, it isn’t surprising that more work remains to resolve interparty, as well as intraparty disagreements. The real budget deadline is June 30, a date which carries enormous consequences for many California businesses and individuals who cannot be paid in the absence of an enacted budget.

“We urge lawmakers and the Governor to finish their work by that deadline. If they do and if the new spending plan remains fiscally disciplined in paying down the massive budgetary debt, makes sound investments, and prepares for the next economic upheaval, California is well-positioned to rise out of the basement level of creditworthiness.”

Read this press release in Spanish.

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