I remember a time, not too long ago, when the State Controller’s monthly report of cash receipts consistently induced shudders, giving us a collective chance to cringe at just how bad the fiscal situation was. No longer. Today’s report (narrative version, nerd version) states that California’s three major taxes beat recent estimates by almost a [...]
I spent my childhood in the Central San Joaquin Valley where summers are hot. Not quite California desert hot, but it wasn’t unusual to have days-long stretches of 100-plus degree temperatures. Luckily, my parents had a pool and we did not hesitate to use it. In fact, we spent most of our summer days in swimsuits and, occasionally, sunscreen. My dad also spent a good amount of time maintaining that pool, dripping liquids into a plastic doodad to test the chemicals in the pool water. Then he swished in some chlorine, maybe, and brushed and skimmed. It was slightly interesting, but time-consuming, and remember, very hot out. I don’t know that he ever thought he had any other option, he just did it.
Everywhere you look: bad news. Not here! Check out some reasons for tempered optimism.
State General Fund receipts for May came in higher than expected, led by sales and use taxes. Also included: a chart showing actual receipts for the year versus budget estimates.
What to do with the extra revenue, if any?