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

California Tax Windfall

First Posted: 05/05/11 01:04 PM ET Updated: 07/05/11 06:12 AM ET

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.

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Filed by Billy Silverman  |