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State Controller John Chiang On The Future Budget Of California
California State Sacramento and CFO John Chiang visited SBCC guard Thursday to discuss the state's fiscal situation with educators and university administrators - the second in a series of conferences organized by the official Santa Barbara County. In a roundtable discussion, Chiang addressed the issues of statewide fiscal, pension and health care, offering information and advice on a topic that said it was "difficult, even for well educated people to understand ".
"You have to be honest, a marker, saying the new drive, if necessary," said Chiang. He added that "if you ever want to know what the status of state tax, go to my site."
The son of Taiwanese immigrants, the second term Democrat was elected to this position in 2007, and issued a report last year which highlighted the enormous costs of providing health benefits for state employees to retire, a move attributed to renew " a very necessary debate. "
The officer of 48 years has since developed a reputation as a tough economic fiduciary, and attracted media attention in 2008 for publicly against a proposed budget reduction initiative by former Governor Arnold Schwarzenegger to reduce salaries of 200,000 state employees to $ 6.55 hour federal minimum. He made headlines again last month to cancel checks in a new law legislation that requires lawmakers to adopt a budget June 15
"You know maybe I took a drive failed to pay the legislators based on Prop 25 and Prop 58," he said, City College Composition. "They were incredibly unlucky, but I tried to remind them that only two years ago, we have failed the decisions were in trouble. - Twice"
Chiang expressed his optimism for a recovery of the debt crisis, but said improvements will require bipartisan cooperation and the process is both gradual and without a single solution.
"Just be careful," he said. "It will be difficult in the foreseeable future. We need the federal government $ 10 billion, and if we do not make the payment, we will pay default interest. [But] I have high hopes for the state. This is the richest country the world, a land of opportunity. If we can make things right, we can change things. "
The regulator said that to see an improvement in health and education, the tax system should be improved to make it "more competitive and reasonable" for small and medium enterprises. But even if small business is a link significant economic return of the state, he said, higher education and research should not be deceived, if we are to compete globally.
"We have a tax code that is outdated - that gives tax benefits to individuals and corporations should not have," Chiang said "We need a tax code that is updated for this. Century. Sales tax in 1933 did not foresee modern societies like Amazon ... Because of political ideology and tradition, when you delete a tax credit to be considered a tax increase -.'s not fair. "
He continued to argue for tax reform, sees a strong, a careful review of the legislature, which is inexpensive, but not at the expense of its fundamental institutions.
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