Get ready for another intense budget battle—which now seems to be happening almost quarterly. State Controller John Chiang released his monthly report on the state’s fiscal health and for the first three months of the new fiscal year,
According to the report, “personal income tax revenues for the month were $934 million below estimates (-17.3%), corporate taxes were down $183 million (-10.5%), and sales taxes came in $99.8 million lower than expected (-4.5%).” Chiang also reported that the general fund deficit has now ballooned to $16.2 billion. Read more here.
The $934 million decrease in personal income tax revenue is particularly noteworthy since
October 9th, 2009 at 12:00 am
Yawn….the socialists and legislature communists will not go down easily….voters created these nut cases just like the loons who voted for high speed rail which will be a union built over budget nightmare making the rail lines uneconomic from day one.
By the way….who wants to go to dirty, morally decayed, expensive San Francisco by rail, car or plane?
Who wants to go to Las Vegas where a cup of coffee rivals Starbucks in price….no deals there, it is hot, boring, getting seedy and stale!
And….the budget is boring too!