John Laird — John Laird, as chair, called the Senate Budget and Fiscal Review Committee to order, handled roll call, and opened the informational hearing. He explained that the session would focus on the state’s budget stabilization account, or Rainy Day Fund, reflected on the lack of reserves in earlier budget practices, noted that changing the tax structure to address volatility is politically difficult, and emphasized that the Rainy Day Fund is the practical tool for managing budget volatility. He also outlined the hearing format: one panel presentation, followed by member questions and comments, then public comment.
John Laird — Referenced as the Chair who helped lay out the issue.
John Laird — Addressed as Mr. Chair.
John Laird — The speaker refers to Mr. Laird as one of the long-serving members of the group.
John Laird — The chair tells the senator to begin speaking, and shortly afterward the senator is referred to again as the speaker's neighbor and as the person who raised the Disneyland point, indicating a continued exchange about the same senator within the same discussion.
Roger Niello — Roger Niello, as vice chair, spoke at length in support of discussing budget reserve policy. He said the topic has long been important to him in public-sector budgeting, argued that while changing the tax structure is unlikely, the state can still improve outcomes by monitoring how reserves are used, and recalled the 2009 budget crisis when the state had no reserves or cash. He also noted that those negotiations led to a 2009 ballot proposition that would have substantially revised reserve policy.
Roger Niello — Referenced as the Vice Chair who helped lay out the issue.
Roger Niello — Roger Niello is identified as next, then first, in line for questions, and the chair continues the same exchange by referencing the vice chair’s earlier point while discussing hearing attendance.
Roger Niello — The chair says Senator Niello is first on the question list.
Roger Niello — The speaker refers to Vice Chair Roger Niello multiple times while discussing a shared fiscal-policy debate. Niello is described as a colleague whose concerns are largely valid, especially his challenge about the relationship between revenue and spending. The speaker then continues the same thread by acknowledging that challenge and later explicitly disagreeing with Niello’s historical interpretation of the tax-policy debate.
Roger Niello — Referred to as the Vice Chair in describing how the state appropriations limit works.
Roger Niello — The speaker references comments from the vice chair and says they were appreciated.
Bob Archuleta — Called in the roll and marked present.
Bob Archuleta — Senator Archuleta’s concern was placed on the record regarding how GoBiz is being funded and whether its funding is appropriately handled in the budget; it was noted that this was the comment and question he would have raised if present.
Christopher Cabaldon — During roll call, Christopher Cabaldon was marked present and later again confirmed as present along with Reyes.
Christopher Cabaldon — Christopher Cabaldon is listed among the senators queued to ask questions during the meeting.
Christopher Cabaldon — The chair says Senator Cabaldon is on deck.
Christopher Cabaldon — Senator Cabaldon is introduced and then offers extended remarks praising the panel and the LAO report for their clarity and methodology. He agrees with the Vice Chair on the fundamentals and reflects on his long experience with budgeting, noting how California’s civic discourse has increasingly framed the legislature’s role as identifying public needs and figuring out how to fund them. He contrasts this approach with other states and other budgeting contexts, and concludes that depending on future tax increases during downturns is not a realistic strategy, affirming that the Vice Chair has raised an important challenge.
Christopher Cabaldon — The speaker repeatedly references Senator Cabaldon while reinforcing a shared point about the importance of historical context and the real impact on people, noting that people will be hurting and that the issue has significant human consequences.
Christopher Cabaldon — Praised for making it easier for people to attend CSU through an administrative change.
Maria Durazo — Called in the roll and marked present.
Maria Durazo — Maria Durazo is identified as being next in line to ask questions and then described as being on deck, with a light joking remark about her making a fake swing of the bat.
Maria Durazo — The chair or speaker says Senator Durazo is next in line to speak.
Maria Durazo — Called next on the list; transcription rendered the name as 'Dorazo.'
Shannon Grove — Shannon Grove is mentioned during the roll call, with the transcript indicating her name as part of the attendance check and presence being called in across the same procedural segment.
Shannon Grove — Shannon Grove is listed among the senators queued to ask questions.
Shannon Grove — Announced as next on deck after Senator Cabaldon.
Shannon Grove — Named as next on deck to speak.
Shannon Grove — Addressed directly to confirm whether the explanation was clear.
Melissa Hurtado — Melissa Hurtado was called during the roll call; her presence was noted but not clearly completed in the transcript excerpt.
Jerry McNerney — Jerry McNerney is called during roll call, with repeated mention confirming his presence.
Caroline Menjivar — Called in the roll.
Rosilicie Bogh — Called in the roll.
Rosilicie Bogh — Likely the intended senator in the phrase 'Senator Ochoa Bogh on deck,' though the transcript is garbled.
Rosilicie Bogh — The chair indicates that Senator Ochoa Bogh will be recognized next, and shortly afterward repeats that Senator Ochoa-Bogh will be the next speaker.
Sasha Pérez — Called in the roll.
Eloise Reyes — Called in the roll and later confirmed present.
Eloise Reyes — Eloise Reyes is repeatedly listed among the senators/members in line to ask questions, indicating her place in the questioning queue.
Eloise Reyes — The chair or speaker announces that Senator Gomez Reyes will speak next; the name appears as 'Gomez Reyes.'
Eloise Reyes — Addressed in the exchange, likely Senator Reyes, though the transcript is garbled.
Eloise Reyes — Referenced in a comment about her husband being prepared to make public comment later.
Eloise Reyes — Mentioned as having briefly started talking about cities and counties.
Laura Richardson — Called in the roll.
Laura Richardson — Listed in the queue for questions.
Laura Richardson — Named as next on deck; transcription rendered the name as 'Richardson.'
Laura Richardson — The chair calls on Senator Richardson next.
Laura Richardson — The chair appears to address 'Senator Weber Pearson,' likely a mis-transcription; the section also references the next senator on deck.
Kelly Seyarto — Called in the roll and marked present.
Kelly Seyarto — Kelly Seyarto is listed among the senators in line to ask questions during the meeting.
Kelly Seyarto — Referenced as having a father who was among the people Prop 13 was meant to protect.