Gov. Jerry Brown is expected to announce a revised budget plan on Monday. According to the LA Times, Brown stated he’ll seek greater than $4.2 billion in cuts requested in January. So far this year, the state spent $2.1 billion more than on the budget. Additionally, revenues are down for the year, therefore, Gov. Brown is asking for a tax increase to be placed on the November ballots.
Brown is expected to cut public school and colleges funding. Budgets for social services may also be cut.
The California State Legislature is to deliver a budget by June 15. For decades the budgets deals at the state level have been cantankerous, missing many deadlines.
Some politicians hoped the Facebook IPO would bring revenues to the state, however, this will not stop the state’s fiscal bleeding.
