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Republicans complimented the restraint exercised by Democratic Gov. Jerry Brown in the revised budget he presented May 14.
Several of Brown’s Democratic legislative allies criticized him for being too tight-fisted.
Ultimately, scattered GOP applause isn’t going to translate into budget “aye” votes and Democratic disgruntlement isn’t going to mean less than the 41 votes needed to send a budget back to Brown that looks quite similar to the one that spawned their initial complaints.
What the rhetorical volley does mean is the official start of budget season.
There have been several months of subcommittee hearings and explications of the Read more »
Saying the state’s “multi-billion dollar increase in current-year cash receipts” is “short-lived,” Gov. Jerry Brown unveiled an updated budget May 14 that gives $2.9 billion of those receipts to public schools.
The $137 billion spending plan also earmarks additional money to Medi-Cal, the state’s health care program fro the poor, whose rolls will expand by more than 1 million persons when the federal Affordable Care Act takes effect January 1, 2014.
“It’s (a budget) that responds to our education and health challenges but unlike ones of the past it’s very prudent,” the Democratic governor told reporters at a Capitol press conference.
The Read more »
Public schools will be the biggest beneficiary by far of the revised budget Gov. Jerry Brown unveils May 14, receiving the bulk – if not all — of the $4.5 billion in unexpected revenue the state has received this year.
The Democratic governor wants to use the money to both augment the budgets of the state’s more than 1,000 school districts and erase several billion of the remaining $8.2 billion in postponed payments to schools made in past budgets.
Paying off those deferrals would effectively place more money in school coffers during the new fiscal year, which begins July 1.
Since January, Californians have paid Read more »
Apparently the message is not sinking in. Once again:
On Tuesday May 14, 2013 Wednesday, Gov. Jerry Brown will present a revised budget plan. That means the document he shares with California and its 38 million residents is a REVISION of the spending plan he presented in January.
It is not a revise of the spending plan he offered four months ago, although it could be a revising thereof.
If the previous document is the Democratic governor’s January budget plan, this new document would be the May REVISION.
Not now, not ever, would it be the May revise.
Revise, according to the Free Read more »
Echoing previous statements by the Franchise Tax Board and the Legislative Analyst, State Controller John Chiang’s April report covering California’s cash balance, receipts and disbursements shows state revenues are $4.6 billion over estimates contained in Gov. Jerry Brown’s January budget plan.
In April alone, tax receipts totaled $15 billion, Chiang reported. All but $200 million of the $4.6 billion is higher-than-anticiapted state income tax payments.
“We’ve reached an important milestone in California’s economic recovery. For the first time in nearly six years, we closed out a month without borrowing from internal state funds to pay our bills,” Chiang said in a statement. “But, there Read more »
(The Legislative Analyst said April 26 that despite an uncharacteristic month of income tax collections, the state will likely end April with $4.5 billion more in revenues than predicted in the budget GOv. Jerry Brown introduced in January.
“Our best estimate is that the state will end April with (personal income tax) collections for the fiscal year to date … somewhere around $4.5 billion ahead of the administration’s estimates. As day-to-day collection trends have been quite unusual this month, this figure certainly is subject to change and could go down slightly if, for example, refund activity accelerates,” the analyst writes.
While being above Read more »
Net state income tax collections for April climbed to $10.1 billion through April 18 — $1.5 billion more than needed for the $138 billion budget proposed by Democratic Gov. Jerry Brown to remain in balance.
Brown’s January budget plan called for the state to receive $13.3 billion in net income tax receipts in April but because of nearly $5 billion more than expected in January tax payments, only $8.5 billion was necessary in April to stay on target.
Now that the level of tax receipts ensures Brown’s budget numbers are on target, budget writers are already looking ahead to May when the Democratic governor issues Read more »
That’s very good news for state budget writers because it means – at a minimum — Gov. Jerry Brown’s January budget plan remains balanced.
“With month-to-date (state income tax) collections, net of refunds, now approaching the $9 billion mark, California has surpassed the $8.5 billion total for the month that was necessary to remain on track with the administration’s most recent revenue estimates,” the Legislative Analyst writes on its website.
“It is difficult to predict what Read more »
California logged more than $2.8 billion in state income tax receipts on April 16 pushing month-to-date collections close to $7.5 billion – less than half way to April’s ’s estimated $16 billion total.
Through April 15th, income tax collections were just over $4.7 billion in withholding by employers and estimated payments by individuals. Requests for refunds were $1.4 billion.
Unlike the last several budget years, it isn’t a make-or-break situation if the state falls short of its $16 billion projection for April gross collections – $13.3 billion after subtracting refunds.
Gov. Jerry Brown’s Department of Finance reports the state running $5 billion above the revenue estimates in Read more »
A record $16 billion in income tax revenue will flow into state coffers during April, according to predictions in Gov. Jerry Brown’s January budget plan.
About $5 billion of that $16 billion comes from higher taxes approved by voters in November through Proposition 30 — $4.5 billion in taxes owed for 2012 and $500 million in estimated payments for what’s due next April.
Privately, the governor and Legislature believe it’s likely California will fall short of the $16 billion record. And, so far anyway, that’s no big deal.
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