![The podium before Gov. Gavin Newsom addresses the media to unveil his 2024-25 January budget proposal at the Secretary of State Auditorium in Sacramento on Jan. 10, 2024. Photo by Miguel Gutierrez Jr., CalMatters](https://cdn.statically.io/img/i0.wp.com/calmatters.org/wp-content/uploads/2024/02/011024-Newsom-January-Budget-2024-MG-CM-12.jpg?resize=400%2C300&ssl=1)
Commentary
California’s great debate resumes about how to cope with volatile swings in tax revenues
California's politicians have argued for two decades about how to deal with volatility. Should California increase rainy day reserves, or just avoid spending surpluses?