California Gets $2B in Unexpected Revenue
Posted in Main Blog (All Posts) on May 7th, 2011 4:47 am by HL
California Gets $2B in Unexpected Revenue
An unexpected $2-billion surge in tax receipts will help California lawmakers close the remaining $15-billion budget deficit. The revenue — a sign of a brightening economy — has crept up incrementally for months and jumped in April, when people paid their taxes. “As much as a third of the deficit will probably, hopefully, disappear,” said Brad Williams, an economist and former chief revenue forecaster for the state legislature.