“April is a key month
for the state’s personal income tax (PIT) and corporation tax (CT) collections.
April collections of these taxes by the Franchise Tax Board (FTB) and the
Employment Development Department (EDD) are nearing their conclusion. To date, results
for April alone are on track to be over $2 billion below the administration’s
most recent budget forecast for the month. Surprise late April collections
remain a small possibility, but if the current trends hold, they suggest that
the state's revenues could be a few billion dollars below the administration's
January forecast in both 2011-12 and 2012-13.”
Exactly how such revenue news, if it continues, might spin out for
the governor’s proposed tax initiative is unclear. The governor might say that it shows how much the added revenue from the initiative is needed. Opponents might say
the bad news shows that the initiative doesn’t fix the problem.
According to the latest PPIC poll, 54% of voters say they support the governor's initiative. However, if cuts are to be made, higher ed is a distant second in what they want to protect from further reductions:
According to the latest PPIC poll, 54% of voters say they support the governor's initiative. However, if cuts are to be made, higher ed is a distant second in what they want to protect from further reductions:
The full poll is at:
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