Analyst Estimates Lower Tax Revenue Than Governor
Don't Miss This
- Women Respond To Ice Bucket Challenge By Raising Money For California Town With Dry Wells
- Stockton Man Pleads For Return Of Dog Stolen From His Car
- Sketch Released Of Suspect Wanted For 2 Stabbings Near Downtown Sacramento
- Roseville Woman Run Over By Own SUV, Dies
- U-Haul Crashes Into Citrus Heights Home, Hitting Baby’s Room
Get Breaking News First
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.
Copyright 2012 The Associated Press.