Nothing to write home about

The state Dept. of Finance released its data on receipts for July, the first month of the 2014-15 fiscal year.  The major taxes - income tax, sales tax, corporate tax - are running at or above forecast levels. (The forecast is the one made in conjunction with the new budget.)  Better more than less, of course.  But it's only one month, so nothing to write home about.  As noted in prior blogs, Gov. Brown seems to have a strategy of making "conservative" revenue forecasts in the hopes of restraining the legislature. 

You can find the latest data at http://www.dof.ca.gov/finance_bulletins/2014/august/Aug-14.pdf