CA Revenue Down Again, Budget is $1.1Billion Under Water

Russ Steele

The Sac Bee Capitol Alert has the story: California revenues 4.2 percent shy in March

As state leaders hope for a surprise uptick in revenues this spring, state Controller John Chiang reported Tuesday that California lagged last month by $233.5 million, or 4.2 percent.

The state missed its target most in corporate income taxes, which were $125.8 million (8.2 percent) off the mark. Income taxes and sales taxes were each less than 2 percent behind Gov. Jerry Brown‘s revenue forecast.

For the fiscal year that ends in June, the state is now trailing Brown’s expectations by nearly $1.1 billion, or 1.9 percent.

Because April is such a important month for state budgeting, Chiang has a daily revenue tracker on his website.  By the end of the month you will know how much trouble the state is really in.  State and Federal Taxes have to be filed by the 16th of April and so far the state has only collect $923 million to the $9.132 billion that is Brown is looking for this month.  Stay Tuned.

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About Russ Steele
Freelance writer and climate change blogger. Russ spent twenty years in the Air Force as a navigator specializing in electronics warfare and digital systems. After his service he was employed for sixteen years as concept developer for TRW, an aerospace and automotive company, and then was CEO of a non-profit Internet provider for 18 months. Russ's articles have appeared in Comstock's Business, Capitol Journal, Trailer Life, Monitoring Times, and Idaho Magazine.

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