Analyst: Jerry Brown underestimates state revenues by $2 billion
SACRAMENTO -- California is likely to collect as much as $2 billion more in taxes in the new fiscal year than Gov. Jerry Brown predicted when he presented his record $113 billion state spending plan last week, according to an independent budget analysis released Tuesday.
That means more money for schools and more reason for advocates to fight for increased spending in the coming months.
The nonpartisan Legislative Analyst said an additional $1 billion to $2 billion is likely barring a sustained stock market slide. Bigger gains amounting to an additional few billion dollars are possible during the fiscal year that starts July 1.
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