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Saturday, April 29, 2017

Unreconciled

Controller's version
Source: http://www.sco.ca.gov/2017_personal_income_tax_tracker.html
LAO version
Source: http://www.latimes.com/politics/essential/la-pol-ca-essential-politics-updates-california-s-budget-could-miss-the-mark-1493420407-htmlstory.html
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There seems to be some disagreement between the state controller and the Legislative Analyst's Office as to where we stand on April personal income tax collections. Both suggest we may fall short of the "target." But what the target is - the governor's from last January (top figure) or what is shown on the LAO version - is unclear. If by some definition the estimated revenues come in below what someone expects, the result could influence the governor's May Revise budget which should be out in the middle of next month.

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