Little Money in May Revise Despite $4.5 Billion Increase in State Tax Receipts
SACRAMENTO — Despite a sharp uptick in state revenues, Governor Brown proposes little new funding for K-12 schools and reaffirmed support for his proposed “Local Control Funding Formula” in yesterday's “May Revise” budget proposals. The Governor's revised budget proposals conservatively assumes that recent increases in state cash receipts are a one-time occurrence and that California's economy is decelerating due to federal tax hikes and spending cuts. He conservatively proposes ...
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