Fwd: Your June 2012 e-Newsletter from Senator Gloria Negrete McLeod

: Your June 2012 e-Newsletter from Senator Gloria Negrete McLeod

Reply-To: Senator.McLeod@senate.ca.gov

Problems viewing this E-newsletter? Please click here. J u n e 2 0 1 2 E d i t i o n     Budget Update On May 14th, Governor Jerry Brown offered revisions to his proposed 2012-2013 budget. The revised spending plan estimates that the state has a $15.7 billion budget gap - an amount that is $6.5 billion greater than the amount the Governor identified in his budget proposal in January. According to the Governor, the state's budget problem has increased primarily because of lower than projected tax revenues, higher costs for schools and decisions by the courts and federal government to block previously approved budget cuts. To close the gap, the Governor has suggested $8.3 billion in state spending cuts and increased revenue from a tax initiative to be placed before the voters in November.