California’s tax revenues ahead of projections
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SACRAMENTO — California tax revenue is much better than expected, says the nonpartisan Legislative Analyst’s Office.
In a report released Tuesday, the office said income taxes collected in June will probably be $500 million more than Gov. Jerry Brown’s administration projected.
That comes on top of a strong May, which saw $561 million more from income taxes than expected.
Tax revenue has been so good that it may even outpace more optimistic projections from the Legislative Analyst’s Office.
Brown recently convinced Democratic lawmakers to use more conservative tax estimates for the state budget scheduled to take effect July 1.
Lawmakers say they may try to revisit budget issues in the coming months if tax revenue continues to be strong and there’s a possibility of restoring more spending to social services.
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Twitter: @chrismegerian
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