Should California save more for a rainy day? One state legislator wants voters to decide

California voters may get to decide on a proposal to modify the state’s financial policies as early as 2026.

Introduced by Assemblymember Avelino Valencia, D-Anaheim, ACA 1 aims to bolster the state’s budget stabilization account, commonly known as the rainy day fund, which the state uses to set aside money for tough times, like recessions or unexpected emergencies.

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