South Bay Lawmaker Concerned About Tax Revenues

SAN JOSE (KCBS) – As the deadline looms for taxpayers, many California legislators are anxious for a completely different reason.

State officials said they are hoping to bring in just over $9 billion in tax revenue next week. But the question remains, will that amount come in?

“The state is waiting to see what kind of tax receipts are coming out of the April 15 deadline for everyone’s income tax,” said State Assemblyman Jim Beall of San Jose. “Assuming we have a good result of that, they’re going to make revised budget estimates on what the extent of the budget problems for the state of California are.”

KCBS’ Mike Colgan Reports:

Beall said that tax revenues won’t solve the budget problems in the state.

“We are also looking at making some budget cuts due to pension reforms that are being proposed in the state legislature and that will help solve our budget problem also,” said Beall. “We need to make some cuts and we need to make some additional revenues as the governor is proposing.”

Beall said that much will hinge on whether voters pass Governor Jerry Brown’s tax plan in November.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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