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Budget analyst projects even higher tax revenue

Published On: May 17 2014 08:07:49 PM CDT
SACRAMENTO, Calif. -

The state's independent budget analyst is predicting more money than Gov. Jerry Brown forecasts for the coming fiscal year.

In a report released Friday, Legislative Analyst Mac Taylor says California will collect $2.2 billion more in tax revenue during the 2014-15 fiscal year than Brown predicted when he released his budget update earlier this week.

Taylor predicts California will collect more capital gains taxes in the coming months because of the stock market's performance. His office projects general fund revenue of $109.2 billion for the fiscal year that starts July 1, compared to Brown's projection of $107 billion.

Toni Atkins, who was installed as Assembly speaker this week, says Democrats will consider the analyst's forecast as they develop a budget that makes what she refers to as "smart investments."