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Keyword: proposition25

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  • California Just Passed One Law To Fix Its Yearly Budget Crisis, And Two Laws To Make It Worse

    11/05/2010 7:15:47 AM PDT · by SeekAndFind · 13 replies
    Business Insider ^ | 11/05/2010 | Gus Lubin
    Prop 19 went down in smoke, but the world's fifth biggest economy passed three propositions that address its yearly budget crisis. One makes it better and two make it worse, according to Bond Buyer. First, California voters passed Prop 25 to allow the legislature to pass a state budget without a 2/3 supermajority. This was the main obstacle to passing a budget this year for over 100 days past due. Arkansas and Rhode Island are the only states that still require a supermajority to pass the budget, and Rhode Island is another fiscal disaster. Second, California voters passed Prop 26...