California Set to Take in $2 Billion More Revenue Than Forecast
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Higher taxes and an improving economy will boost California’s revenue $2 billion above the income Governor Jerry Brown projected in the budget he signed in June, the state’s fiscal analyst said.
The state’s general fund, which pays for most core operations, will reach $107.4 billion in the year ending June 30, compared with $105.5 billion in Brown’s budget, the independent Legislative Analyst’s Office said yesterday in a report. Under the state constitution, almost all of the additional money will go to education, analyst Mac Taylor said.