[mobile site, backup mobile]
[SoapBlox Help]
Menu & About Calitics

Make a New Account

Username:

Password:



Forget your username or password?

- About Calitics
- The Rules (Legal Stuff)
- Event Calendar
- Calitics' ActBlue Page
- Calitics RSS Feed
- Additional Advertisers


View All Calitics Tags Or Search with Google:
 
Web Calitics

The Numbers Giveth and the Numbers Taketh Away

by: Brian Leubitz

Mon Mar 12, 2012 at 12:03:03 PM PDT


Tax revenues fall short of projection

by Brian Leubitz

Yesterday I mentioned some positive economic signs, and today we get some negative numbers:

California revenues missed the mark in February by 3.2 percent, or $146.3 million, state Controller John Chiang said Monday.

Chiang, who manages the state's cash, said the shortfall was likely due to a spike in tax refunds going out earlier than expected in February. Income tax receipts were 5.7 percent, or $99.9 million, below the Department of Finance's projection.

Gov. Jerry Brown and state lawmakers are anxiously awaiting tax receipts from March and April, two significant revenue months as taxpayers file their returns. The Democratic governor has proposed a budget to close a $9.2 billion deficit, but the nonpartisan Legislative Analyst's Office has suggested that Brown's estimates are overly optimistic and that the deficit is likely higher than that figure.(SacBee)

As mentioned, the big tax figures are going to be the March and April figures, so no need to panic just yet. However, with everybody on pins and needles for the smallest bit of data, this made a ripple in Sacramento. Don't expect anybody to let the panic button escape their direct line of vision anytime soon.

Brian Leubitz :: The Numbers Giveth and the Numbers Taketh Away
Tags: , (All Tags)
Print Friendly View Send As Email

Calitics in the Media
Archives & Bookings
The Calitics Radio Show
Calitics Premium Ads


Support Calitics:

Advertisers


-->
California Friends
Shared Communities
Resources
California News
Progressive Organizations
The Big BlogRoll

Referrals
Technorati
Google Blogsearch

Daily Email Summary


Powered by: SoapBlox