New Math: California Missed August Revenue Forecast

Just over one week ago, I wrote that California tax collections in August exceeded the budget. It turns out that California Controller John Chiang apparently had $75 million of insurance tax in August that was actually received in September. Thus, California revenues were under projections in August by $65 million.

Well, California is only $596 million under budget. What else could California do to help its cause? (My next post will deal with that.)


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