California State Controller's Office : Controller: LAO Report on Calif. Fiscal Outlook is 'No Surprise'

Skip to: Mobile | Content | Footer | Accessibility

Site Tools

Decrease
Increase
Print

Quick Links

About the Controller
State Controller's Office Services
California Fiscal Issues and Information
State Mandate Information
21st Century Project
California Strong Seminars
Directory of State Agencies

Other Resources

Franchise Tax Board
Board of Equalization
Internal Revenue Service
List of State Agencies
State Lands Commission
State Home Page

Home

California Fiscal Issues and Information page

Controller: LAO Report on Calif. Fiscal Outlook is 'No Surprise'

California Controller John Chiang issued the following statement Wednesday regarding the Legislative Analyst's report on California's fiscal outlook:

"Today’s news is no surprise. Our economy's sluggish growth means a tax windfall is unlikely, and not a penny of the estimated $4 billion has been collected to date. The Governor and lawmakers were smart to backstop their hopeful budget projections with mid-year cuts, but they may not have gone far enough. Today's report tracks with the troublesome pattern we have seen in the State's receipts and spending, which could mean a cash-flow problem in California’s near future."

Read the LAO's report here: www.lao.ca.gov