Wednesday, January 11, 2012
California’s non-partisan Legislative Analyst says Governor Jerry Brown’s 2012 budget proposal would save the state enough money to “pretty much” close the state’s deficit – now and in future years.
California’s non-partisan Legislative Analyst Mac Taylor claimed Governor Jerry Brown’s 2012 budget proposal would save the state enough money to “pretty much” close the state’s deficit – now and in future years.
"If we do something similar to what the governor proposes, we will have made dramatic progress in solving our problem."
But Legislative Analyst Mac Taylor said his office isn’t projecting nearly as much personal income tax revenue as the governor’s Finance Department does.
“And I think what we’re concerned about is the capital gains assumptions that the administration is making is a little bit optimistic.”
Taylor said there’s a four billion dollar gap between the two revenue estimates. The Legislative Analyst’s report also warns the budget proposal would leave school districts with a great deal of financial uncertainty. That’s because Brown is calling for nearly five billion dollars in mid-year “trigger cuts” if his November tax initiative fails at the polls.