Revised California Tax Projections Could Squeeze Budget ...Middle East

Sacramento, CA — California lawmakers approved a record $308 billion spending plan this year based on expectations of a very strong economy. The budget anticipates that revenues that will be collected this year from sales, income and corporate taxes will total $ 210 billion. However, a new report from the non-partisan California Legislative Analyst says there is a 70-percent chance that tax revenue will fall below the projections, likely about $ 5 billion short. Budget projections regularly change throughout the year, as last fiscal year the state ended with a $90- billion surplus. The new projected decline indicates that the economy might not be as robust this year as originally expected. T

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Revised California Tax Projections Could Squeeze Budget ...Middle East

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