California Budget: State Tax Revenue Already $2 Billion Above Forecast

05/05/2011 12:04 pm ET | Updated Jul 05, 2011
  • Shane Goldmacher, Los Angeles Times

Reporting from Sacramento -- State officials are reporting an unexpected $2-billion surge in tax receipts that will help lawmakers close the remaining $15-billion budget deficit, and the Capitol is humming with hope that more is coming.

But the windfall could complicate Gov. Jerry Brown's push for tax increases, which he says are needed for California's longer-term financial health.