Up and up
The projected revenue windfall for the state continues to climb by the day. A few days ago the number most commonly bantered about was $4 billion. A few months ago, the Legislative Analyst's Office estimated that the state would take in more than $2 billion than expected. Now, the Chronicle is reporting the real number may be more than $5 billion. Gov. Arnold Schwarzenegger will propose using $3.2 billion in unexpected revenue that has surged into the state treasury to pay off looming debts and to shore up reserves for next year's budget, administration officials said Thursday. The governor's revised budget, due out Friday, benefits from a windfall in tax collections this year that are expected to be more than $5 billion higher than January estimates. |
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