Brown Set to Release "May Revise" Budget Proposal
Published On : 5/13/2013 10:22 AM
From : CCN
Categories : Local, State
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California Governor Jerry Brown releases his updated budget proposal known as the “May Revise” tomorrow.
The spending plan comes with the state’s finances as strong as they’ve been in years, and revenues coming in well above projections.
But HD Palmer with the governor’s Department of Finance says don’t expect the extra money to go back into programs cut during the recession.
“For people looking at the $4.5 billion above forecast and thinking that’s a lot of money lying around with no strings attached, that’s definitely not the case.”
Palmer says most of the extra money will belong to schools under California’s Proposition 98.
It’s also likely that at least some of the surplus revenues are one-time only. That’s because wealthy taxpayers may have shifted some of their profits back a year to avoid higher federal tax rates that took effect in January.
You can hear live coverage of the governor’s budget presentation tomorrow at 10am on Capital Public Radio’s “Insight.”