Joel Fox writes:
The battle is on over the state budget due July 1 and the fireworks could shed light on an initiative measure on the November ballot. Designated as Proposition 25, the measure would reduce the legislative vote requirement to pass a budget from two-thirds to a simple majority.
Assembly Speaker John Perez’s budget plan is built on borrowing, although the plan includes a tax increase the speaker believes he can make happen with a majority vote. The attorney general says the plan may be in violation of state law. The treasurer says Wall Street will not buy into the plan because of the attorney general’s opinion letter.
. . .
A plan the Democratic attorney general calls legally suspect; a plan the Democratic treasurer finds wanting; a plan that commits the next generation to pay off next year’s budget could pass under the provisions of Proposition 25 if that measure is placed in the constitution.