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Governor Brown Releases Updated Budget



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(Sacramento, CA)
Monday, May 16, 2011

Governor Brown says the deficit has shrunk to about 10 billion dollars.  That's largely due to healthier-than-expected tax revenues.  Brown wants to use that money in part to reduce his tax extension package.  He's taking the personal income tax increase off the table for one year.  Brown's also focused on paying down some debt:

"There's something infantile about the idea we spend and then we borrow, well in balance that's ok, but we've exceeded the limit and what I'm saying is the wall of debt has to be brought down.  My plan does that."

Brown's plan also includes about three billion dollars more for education than his original proposal.  The Governor is asking lawmakers to approve the income, vehicle and sales tax extensions - and then send the plan to voters to ratify or reject in the fall.  He says without the taxes, the scenario would be bleak - but he's not outlining a plan B. 
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