CalWatchdog Morning Read – May 10

by CalWatchdog Staff | May 10, 2016 11:25 am


Good morning!

With Gov. Jerry Brown’s revised budget expected to be released sometime this week, it’s important to note that while the state’s finances have improved substantially during his most recent terms, many see a crisis ahead.

Multiple credit agencies, observers, lawmakers and even the popular governor have pointed to the fact that the state is too dependent on a small group of the wealthiest individuals to fund state activities — a problem because their income is largely tied to the volatility of the stock market, which, in an economic downturn, could dramatically reduce revenue.

Around 150,000 tax returns (according to the the Franchise Tax Board), provide 33 percent of the state’s total revenue. 

But while there’s consensus that something needs to happen, there’s little consensus as to what that something is.

CalWatchdog[1] has more. 

In other news: 



Gov. Brown:


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