This article was originally published by VerdExchange Conference.
In the days after Governor Newsom signed California’s $308 billion budget—which includes record spending across sectors bolstered by a nearly $100 billion surplus—TPR/VXNews interviewed California Senate Majority Leader Emeritus Robert Hertzberg on the highlights of the 2022-23 state budget package. The Senator elaborates on the one-time infrastructure investments embedded throughout the budget for climate resilience—including grid reliability, EV charging, wildfire, water recycling, and more. While state reserves this year benefit from significant windfall in capital gains taxes, Hertzberg emphasizes the long term need to correct California’s financial structure to avoid volatile impacts to the state budget year after year.
