Analyst: California governor underestimates revenues by $2B

Jan 13, 2015 3:51 PM by News Staff

SACRAMENTO, Calif. (AP) - An independent budget analysis says California is likely to collect as much as $2 billion more in taxes in the new fiscal year than Gov. Jerry Brown predicted last week.

That means more money for schools and more reason for advocates to fight for increased spending in the coming months.

Tuesday's report by the nonpartisan Legislative Analyst says an additional $1 billion to $2 billion is likely barring a stock market slide. Bigger gains amounting to an additional few billion dollars are possible during the fiscal year that starts July 1.

The Democratic governor faces pressure from fellow lawmakers to increase assistance to welfare, health care, child care and other social programs.

The analysis cautions that most of the extra money will go schools and community colleges.

Copyright 2015 The Associated Press. All rights reserved.


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