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Wednesday, April 25, 2012

With state revenues slowing to a trickle as the end of April draws near, the state's top fiscal analyst said late Wednesday that California could be "a few billion dollars" shy of Gov. Jerry Brown's budget projections through June 2013.

The nonpartisan Legislative Analyst's Office said total personal income tax collections would likely be more than $2 billion below Brown's expectation of $9.4 billion for the month. Because the state was already running behind, it would mean PIT revenues would be $3 billion shy for the fiscal year compared to Brown's updated January projections. - Sacramento Bee