The latest on California politics and government
April 29, 2010
With two days left in April, California needs $3.4 billion in income tax revenues to meet Gov. Arnold Schwarzenegger’s projection for the month.
The most the state has received on any given day this month is $777 million on April 16, according to state Controller John Chiang’s online revenue tracker. The state so far has collected $6.8 billion in April, while Schwarzenegger’s January budget projected California would receive $10.2 billion.
The income-tax collection gap isn’t a devastating blow to the budget picture, since California can still hit its year-to-date tax revenue target after collecting $2.7 billion more than projected over the previous nine months. But it appears the state is unlikely to enjoy the big bump that lawmakers and Schwarzenegger had been hoping for.
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