Brown Will Seek ‘Serious Cuts’ in Revised California Budget

Wednesday, 02 May 2012 08:38 PM

 

Share:
A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink

May 2 (Bloomberg) -- California Governor Jerry Brown said he’ll propose “very serious cuts” when he unveils his revised budget in two weeks, after state tax revenue fell $3.1 billion below his projections.

The 74-year-old Democrat was already facing a $9.2 billion deficit before the shortfall made it worse. Income-tax revenue in April alone trailed his budget estimate by $2 billion.

The governor of the most populous U.S. state is seeking a voter initiative to temporarily raise income taxes and sales levies to help offset further cuts. California has fought deficits every year since 2007 as the longest recession since the Depression reduced tax collections.

“On May 14, I’m going to present a balanced budget proposal with very serious cuts,” Brown said in an interview in Los Angeles. He declined to specify areas that may bear the biggest reductions, saying much depends on the fate of his November ballot initiative.

“This is a budget proposal that will work,” Brown said. “It will balance the budget and it will contain more cuts than taxes.”


© Copyright 2014 Bloomberg News. All rights reserved.

Share:
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Peter King, Press Corps Irked Over White House Boston Observance

Tuesday, 15 Apr 2014 22:16 PM

The White House press corps was unhappy that it was not allowed access to a moment of silence for Boston Marathon victim . . .

Arizona State Rep: 'Can't Recognize My Country' in Rancher Dispute

Tuesday, 15 Apr 2014 18:47 PM

Nevada rancher Cliven Bundy may have been partly to blame for his standoff with federal authorities, but the government' . . .

Bill Allows Snap Inspections of Arizona Abortion Clinics

Tuesday, 15 Apr 2014 20:58 PM

Arizona Governor Jan Brewer on Tuesday signed into a law a bill allowing state health authorities to conduct surprise in . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved