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budget surplus

    McKeon Votes To Raise Debt Ceiling Temporarily

    Rep. Howard “Buck” McKeon, R-Santa Clarita, voted for H.R. 325, the “No Budget No Pay” Act of 2013. H.R. 325 passed by a vote of 285-144. This legislation temporarily raises the debt limit through May 18, 2013. In addition, the bill directs the Members of both the House and Senate to pass a FY 2014 budget resolution by April 15, 2013. If either chamber fails to do so, members of that chamber will have their pay put into an escrow account until a budget resolution is passed or the end of the 113th Congress.

    UPDATE: New State Budget Projects Surplus By End Of 2014

    Jerry BrownCalifornia Governor Jerry Brown proposed a 2013-2014 state budget Wednesday that projects a surplus by the end of fiscal 2014. The projected surplus of $851 million is based on the assumption that all of Brown's proposals are adopted by the state legislature, according to the governor.

    If Brown’s budget predictions are correct, it will be only the second time the state has budget surplus in the last decade.

    While it may be too early to tell just how dramatic the impact will be for local state-funded services like College of the Canyons' Valencia and Canyon Country campuses, higher education officials are optimistic about the writing on the wall.