• California revenue is growing. So why the talk of deficits?

    10 monthes ago - By The Seattle Times

    SACRAMENTO, Calif. - California's economy is expanding and voters just approved billions of dollars in tax increases, yet Gov. Jerry Brown this week projected a budget deficit for the first time in four years and called for spending cuts. So what's going on? The paradoxical budget picture is a result of revenue growing more [...]
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  • California revenue is growing. So why the talk of deficits?

    California revenue is growing. So why the talk of deficits?

    10 monthes ago - By My Sanantonio

    California's economy is expanding and voters just approved billions of dollars in tax increases, yet Gov. Jerry Brown this week projected a budget deficit for the first time in four years and called for spending cuts.
    Brown's administration says California's three biggest income sources - personal income taxes, sales taxes and corporate taxes - are all coming in below projections.
    [...] sales taxes are depressed by high costs for housing and health care - expenses that don't incur sales tax but eat up consumers' disposable income and crowd out other spending.
    For the current budget year...
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