Income Tax Revenue in April Falls More Than $2B Short of Projections
California's personal income tax revenue in April was more than $2 billion below Gov. Jerry Brown's (D) budget expectations, according to data published by State Controller John Chiang (D), Bloomberg reports.
According to a daily tally on the state controller's website, California has received $6.74 billion in personal income tax revenue since April 1.
Brown had projected that the state would receive $9.13 billion.
The governor plans to release a revised spending plan later this month based on newer revenue data (Marois, Bloomberg, 4/27).
Brown's Initial Spending Plan
Brown's initial $92.6 billion budget plan for the 2012-2013 fiscal year includes cuts to several health programs:
- $946.2 million from CalWORKs -- the state's welfare-to-work program -- by limiting the amount of time most adults could be on the program from four years to two years;
- $842.3 million from Medi-Cal -- California's Medicaid program -- by merging services for beneficiariesÂ eligible for both Medi-Cal and Medicare;
- $163.8 million from In-Home Supportive Services -- which provides services for the elderly and people who are blind or have disabilities -- by eliminating domestic assistance for beneficiaries in shared living environments; and
- $64 million from Healthy Families, California's Children's Health Insurance Program, by moving children out of the program (California Healthline, 4/11).
Brown also is pushing a compromise tax hike proposal that he developed along with supporters of the "Millionaires Tax" that would increase the state's sales tax, as well as boost income taxes for high-income individuals (Bloomberg, 4/27).
Headlines and links to broadcast coverage of April revenue earnings are provided below:
- "April Tax Revenues Falling $2 Billion Short" (Adler, "KXJZ News," Capital Public Radio, 4/30).
- "Revenue From Personal Income Taxes Falls $2 Billion Short" ("KPCC News," KPCC, 4/30).