FOR IMMEDIATE RELEASE: Monday, March 14, 2016
Contact: Amanda Smith, (714) 662-6050, Amanda.Smith@sen.ca.gov
With California’s Government Hundreds of Billions in the RED, Senator Moorlach Introduces Bill To Give Voters Access to State’s Balance Sheet
SB 1251 Would Require State’s Balance Sheet To Be Included in the Voter Information Pamphlet
(SACRAMENTO, CA) — Facing unfunded pension and retiree medical liabilities of $220 billion or more, California has the highest debt total of all the 50 states, yet voters are asked every election to approve even more bonded debt and to vote for candidates with varying philosophies for state spending and debt.
That’s why Senator Moorlach (R-Costa Mesa) announced today that he’s introduced SB 1251 – to require the state’s updated balance sheet, including accounting for outstanding debts and unfunded liabilities, to be printed in the state’s official Voter Information Pamphlet prior to each election. Continue reading