Gann Limit - Definition & Meaning
The Gann Limit, named after Paul Gann, is a fiscal policy mechanism established in California through Proposition 4, also known as the "Gann Limit" initiative. The Gann Limit places a cap on the growth of government spending, particularly in the context of state and local government budgets.
Under the Gann Limit, government expenditures cannot grow faster than the combined rates of inflation and population growth. If government revenues exceed this limit, excess funds are often required to be returned to taxpayers or used for specific purposes, such as education or infrastructure.
The Gann Limit is designed to ensure fiscal discipline and prevent excessive government spending. It has implications for various public services, including education, as it can impact the allocation of funds for educational programs and initiatives.
Under the Gann Limit, government expenditures cannot grow faster than the combined rates of inflation and population growth. If government revenues exceed this limit, excess funds are often required to be returned to taxpayers or used for specific purposes, such as education or infrastructure.
The Gann Limit is designed to ensure fiscal discipline and prevent excessive government spending. It has implications for various public services, including education, as it can impact the allocation of funds for educational programs and initiatives.
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