Ethan Explains California Proposition 53
California has 17 statewide ballot initiatives this year. Here I talk about Proposition 53, California Voter Approval Requirement for Revenue Bonds above $2 Billion Initiative.
Californians already vote on general revenue bonds. This proposal is inflation adjusted for voters to approve revenue bonds for over $2 billion. Things like the Sacramento River Delta Water Tunnels and the California High Speed Rail will be covered by this initiative.
This is a great way to hold politicians to account for their project promises and for voters to have more input. We already vote on this kind of money on everything else, we should on revenue bonds as well.
The arguments against are singular and weak. All under the banner of local control, which I usually support. Here, the local control over a $2+ billion dollar revenue bond? Like what? They claim bridge repairs in Los Angeles.
Really? A bridge repair in Los Angeles? I find that a specious argument for the Democratic majority in Sacramento to continue spending on revenue bonds as they see fit. Regardless of what the voters actually want.
I say vote YES on Proposition 53.
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