A belief question
In a year when the state collects more money than expected, what should come first?
Saving means putting money into a reserve that can be used in a later year when revenue falls. Spending means using it on programs and services in the year it comes in.
The two sides
- Saving more of it for future bad years
- Spending more of it on services this year
Propositions linked to this belief
California ballot, November 3, 2026
Proposition 2: Increases State’s Rainy Day Fund. Legislative Constitutional Amendment.The official text says a YES vote moves toward: Saving more of it for future bad years.
The official guide says a YES vote means: "Rules for building state budget reserves and paying down extra state debts would change. As a result, state budget reserves would be higher."
Past propositions
Proposition 2, 2014 · Passed
State Budget. Budget Stabilization Account. Legislative Constitutional Amendment.
Required the state to move 1.5% of General Fund revenues each year, plus some capital gains tax revenues, into a budget stabilization account, with half used to repay state debts and the rest usable only in an emergency or a budget deficit.
The official text said a YES vote moved toward: Saving more of it for future bad years.
The official summary says Proposition 2 "Requires annual transfer of 1.5% of general fund revenues to state budget stabilization account" and "Allows limited use of funds in case of emergency or if there is a state budget deficit."
Official Voter Information Guide, November 4, 2014 General Election: Proposition 2, Official Title and Summary