Budget Woes

The latest controller's report (through February) shows us in receipt of $125.6 billion in revenue so far in the current fiscal year. That is $29 billion less than was projected when the current year's budget was enacted and $5 billion below what the governor estimated we would have at the time of his January budget proposal. 

Overestimation of the personal income tax receipts was the main villain in both cases.

The controller's news release is at https://sco.ca.gov/Files-ARD/CASH/February2024StatementofGeneralFundCashReceiptsandDisbursements.pdf.