Brown Predicts Surplus, Promises to Hold Line
Governor Jerry Brown declared an end to California’s chronic fiscal crisis, projecting the first surplus in a decade thanks to spending cuts and $6 billion in new taxes approved by voters.
Brown’s budget predicts an $851 million surplus for the fiscal year that begins July 1. The blueprint, including a $1 billion reserve, increases general-fund spending by 5 percent to $97.6 billion.
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