Recently, Sen. Cox spoke about the state budget deficit and how this will effect El Dorado County’s payments and budget.

Cox warned that the County budget is “not safe as long as the legislature is in session” indicating that they may balance the state budget on the backs of rural areas with less political power then San Francisco or Southern California.

One area that demonstrated the point was water. Areas of origin, like El Dorado County, want money spent on storage, but SoCal wants money spent on water transportation like a second canal to LA. When the votes come down to a cut, it is likely that counties like El Dorado will not have enough votes to protect their concerns.

Cox noted that the legislators had met the deadline of the special session to resolve the budget deficit. The solution is to borrow $ 3,000,000,000 dollars! Many, including EID officials, have raised concern over how this affects the bond market and drives up cost to other governmental entities. In spite of EID’s high rating, some bond’s interest rates have jumped by almost 7%!

Noting his own age, Senator Cox observed that the state’s borrowing would not be paid back by today’s legislators, but by their children and grand children.

Cox promised to support the concept that EDC is a self-help county in regards to
paying for their own highways. Noting that EDC’s TIM fee program brings in more then other counties sales tax dedicated to roads. He did warn that LA wanted to use the same rationale and that would double their demand on the state budget.

Cox commented that he was nearly recovered from a broken ankle caused from a fall during a recent visit to the Diamond Spring Fire Department. He admits could have been avoided if he had heeded his wife’s advice. He was updated by Supervisor Sweeney that a new safety rail had been installed and it was informally called the “Dave Cox Handrail.” Contact the Senator at http://republican.sen.ca.gov/web/1/