Friday, May 18, 2012
California's Legislative Analyst called Governor Jerry Brown's calculation of the budget problem "reasonable", with one exception.
MacTaylor said the Governor's estimate of money saved from closing down redevelopment agencies likely won't be as much as the Governor thinks.
"Our best guest we'll get about 900 million in the two year period, or roughly half of what the administration is estimating," said MacTaylor. "If that were true that would increase the budget problem by a comparable amount."
He also said the Governor's proposed tax initiative likely won't raise as much money as the administration had estimated.
Taylor's believes California's overall revenues for this year and next will come in 550 million dollars below what the Governor has forecast.