Despite growing revenue, Calif. governor shrinks budget proposal

[Starry Messenger]

http://www.peoplesworld.org/despite-growing-revenue-calif-governor-shrinks-budget-proposal/

Despite reports of increased income tax revenue in the first four months of the year, Gov. Jerry Brown May 14 proposed a $96.4 billion general fund budget - $1.3 billion lower than the one he issued in January. The "May revise" kicks off weeks of negotiations with the legislature.

Hopes had been building among millions of Californians who have suffered from repeated cuts in human services that with the higher tax revenue and the victory last November of a temporary tax on high incomes to fund education, some cuts could be restored.

But Brown disappointed them, and set up potential tensions with Democratic legislators now holding two-third majorities in both houses, as he cautioned about weak global economic growth and federal actions including the sequester.

"This is not the time to break out the champagne," he said, warning that some of the $4.5 billion increase in revenue comes from taxpayers who shifted income from 2013 to 2012 to avoid higher federal tax rates.

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Grrrr.

[KamaAina]

1. When you hear things like "rainy day fund" and "pay down the debt",

what he's really saying is that paying off Wall Street bankers is a higher priority than supporting millions of Californians who have suffered through a decade of devastating cuts.

[SoapBox]

2. Grrrrr...

is right.