I want to hold the land acknowledgement. Ramaytush oholone land acknowledgement we acknowledges that we are on the unceded ancestral homeland of the ramaytush rahmytoosh ohlone olonee who are the original inhabitants of the San Francisco peninsula. Forgotten the responsibilities as the caretakers of this place, as well as for all peoples who reside in their traditional territory. Ramaytush ohlone community and by affirming their sovereign rights as first peoples. Thank you. Um, so i guess well start with the revenue update. Thank you. All right. Good morning. Um, my name is carol lou citywide revenue manager of the budget and Analysis Division from the Controllers Office thank you for being here. Last time my colleague gary talked about the homeless for another for the joint report that significantly lowered um, the tax forecast for all yours what had been previously assumed in the budget ill speak that the mark 24 to the joint report were still writing that report so ill speak about t
I want to hold the land acknowledgement. Ramaytush oholone land acknowledgement we acknowledges that we are on the unceded ancestral homeland of the ramaytush rahmytoosh ohlone olonee who are the original inhabitants of the San Francisco peninsula. Forgotten the responsibilities as the caretakers of this place, as well as for all peoples who reside in their traditional territory. Ramaytush ohlone community and by affirming their sovereign rights as first peoples. Thank you. Um, so i guess well start with the revenue update. Thank you. All right. Good morning. Um, my name is carol lou citywide revenue manager of the budget and Analysis Division from the Controllers Office thank you for being here. Last time my colleague gary talked about the homeless for another for the joint report that significantly lowered um, the tax forecast for all yours what had been previously assumed in the budget ill speak that the mark 24 to the joint report were still writing that report so ill speak about t
Inflation. 3. 75 for Wage Inflation and 7. 5 for discount rate. Were proposing two options for assumption. Option one would reduce Price Inflation and Wage Inflation and discount rate by 25 base points. Option two would reduce price and wage by 25 basis points. The data in the study shows the reasons for pushing in particular the Price Inflation down. Then we have a discussion of the discount rates, i guess we show the historical changes weve made in these assumptions. If im just going to skip forward just quickly, Price Inflation, if you look at all the survey information, 3 is kind of a high level. There are some of the california plans that are above 3 including this plan. But generally all the forecasts are lower including any pcs assumptions. Were keeping the spread between Price Inflation and Wage Inflation p flaition constant in all and surprise inflation constant iPrice Inflationconsta. There are lower rates particularly for california. We looked at all the systems that had an
For discount rate. Were proposing two options for assumption. Option one would reduce Price Inflation and Wage Inflation and discount rate by 25 base points. Option two would reduce price and wage by 25 basis points. The data in the study shows the reasons for pushing in particular the Price Inflation down. Then we have a discussion of the discount rates, i guess we show the historical changes weve made in these assumptions. If im just going to skip forward just quickly, Price Inflation, if you look at all the survey information, 3 is kind of a high level. There are some of the california plans that are above 3 including this plan. But generally all the forecasts are lower including any pcs assumptions. Were keeping the spread between Price Inflation and Wage Inflation p flaition constant in all and surprise inflation constant iPrice Inflationconsta. There are lower rates particularly for california. We looked at all the systems that had an assumption of 7. 5 or above and looked at wha
Vote the presiding officer on this vote the yeas are 52. The nays are 48. The motion is agreed to. The clerk will report the bill. The clerk calendar number 266 h. R. 1 an act to provide for reconciliation pursuant to titles 2 and 5 of the concurrent resolution on the budget for fiscal year 2018. Mr. Mcconnell mr. President . The presiding officer majority leader. Mr. Mcconnell i ask unanimous consent the senate that senator wyden or his designee be recognized to offer a motion to commit the bill, text of which is at the desk. I further ask that the time until 8 00 p. M. Be equally divided between the leaders or their designees and that at 8 00 p. M. The senate vote in relation to the motion to commit with no intervening action or debate and that following the disposition of the wyden motion, the majority leader be recognized. The presiding officer is there objection . Without objection. Mr. Wyden mr. President. The presiding officer the senator from oregon. Mr. Wyden i ask unanimous c