CA Legislative Analyst’s Office Releases Overview of Brown’s Budget

SACRAMENTO, Calif. (AP) – California’s nonpartisan budget analyst is giving a more sober projection of tax revenue than the one contained in Gov. Jerry Brown’s proposal for the coming fiscal year, mostly because it forecasts less from personal income taxes. If the Legislative Analyst’s Office is correct, lawmakers will have to consider more spending cuts, tax increases, borrowing or a combination. The analyst released its overview of Gov. Jerry Brown’s proposed $92.6 billion general fund budget for the 2012-13 fiscal year on Wednesday. The main disagreement is over how much will be brought in from the wealthiest Californians, who pay about 40 percent of income taxes. Brown wants voters to raise their taxes. The difference in overall revenue between the governor’s estimate and the analyst’s is $3.2 billion, mostly in income taxes.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: