Independent analyst forecasts rosy finances for California

Nov 18, 2015 3:17 PM by News Staff

SACRAMENTO, Calif. (AP) - California's independent legislative analyst is forecasting a rosy economic future, assuming the state's income levels continue and there are no major spending increases.

In a report Wednesday, legislative analyst Mac Taylor says California's budget is better prepared for an economic downturn than it has been in decades.

Taylor forecasts California will end the fiscal year in June with $3.6 billion in additional revenues. He says if current trends continue, California could have nearly $12 billion in its rainy day account by the end of 2016-17.

But he echoes Gov. Jerry Brown in saying the financial picture is more precarious if lawmakers boost spending on programs.

Assembly Speaker Toni Atkins, a San Diego Democrat, says the state should raise the minimum wage and increase spending on disability services, education and infrastructure.

Copyright 2015 The Associated Press. All rights reserved.


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