May 18, 2010
Legislative Analyst’s Office: May Budget Revision
Large Budget Problem Little Changed Since January. In the May Revision, the administration estimates that California must address a $17.9 billion gap between current-law resources and expenditures in the 2010‑11 General Fund budget. In our view, the administration’s estimate is reasonable. While our tax revenue estimates are slightly higher than the Governor’s: $400 million in 2009‑10 and $1 billion in 2010‑11—overall, our view of the budget problem is similar...Read the entire Overview of the May Budget Revision below.
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