2002 - 2003 TimelineSelect a month to view the timeline for this issue:
Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct
Budget & Economy
May 19th Legislative Analysts Office said latest Davis budget proposal would lead to larger deficits down the road. More Info
May 16th Approximately 10,000 state employees began to be notified they might be laid off or receive pay cuts as a result of the budget deficit. More Info
May 14th Governor Davis released his revised 2003-2004 budget plan with significant changes from his January proposal. More Info
May 1st A Bipartisan deal was struck to address the budget deficit. An estimated $3.6 billion in reductions was agreed upon. More Info
  The State Supreme Court ruled that a budget impasse will have financial consequences impacting state employees and state-funded programs. More Info

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Resources & Links

Resources & Links

Sacramento Bee:
Layoff notices starting

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Overview | Resources & Links

Overview

Governor Davis released his revised 2003-2004 budget plan with significant changes from his January proposal.

In his new plan, he proposed to...

  • Delay the structural reform he promised in his State of the State Address.
  • Borrow an estimated $11 billion to pay off over the next 5 years.
  • Reduce cuts to programs he proposed in January.
  • Increase the state sales tax by half a cent.
  • Triple the vehicle license fee.
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Resources & Links

Resources & Links

San Francisco Chronicle:
$3.6 billion savings in budget OKd

Sacramento Bee:
Capitol deal will lop 3.7 billion off deficit

San Jose Mercury News:
Leaders reach key compromise

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