No on California Proposition 3
Prop 3 authorizes $8.9 billion in general obligation bonds for water projects, similarly to June’s Prop 68. I voted “no” on Prop 68 — which passed with 57 percent of the vote — because it unnecessarily took $4 billion plus interest out of the General Fund and its primary uses like education and healthcare. Prop 3 will be paid out of the General Fund to the tune of $430 million per year, or 0.35 percent of the current General Fund, for the next 40 years. As I’ve elaborated on in my No on Prop 1 endorsement this cycle, this not only cuts away at priorities, but also worsens governance as legislators lack tools to evaluate and revise spending.
The hodgepodge of projects that Prop 3 would fund can be funded through the normal legislative channel of the General Fund. For nearly $9 billion in spending, Californians deserve to know how the projects are working, and to change direction as needed.