With the Governor's release of his revised 2015-16 budget proposal, the Department of Finance has placed a number of updated economic and tax resources online:
- Updated Economic Forecast Information. The updated national and state economic forecasts underlying the administration's May Revision estimates are here.
- Updated Administration Multiyear Forecast. The multi-year General Fund budget forecast prepared by the administration, including a listing of total General Fund revenues projected through 2018-19, is here.
- Administration's May Revision Economic and Revenue Summaries. From the 2015-16 May Revision summary of the administration, the Economic Outlook section and the Revenue Estimates section are online.
- Earned Income Tax Credit (EITC) Information. The Revenue Estimates section discusses the Governor's proposed state EITC. The administration's proposed trailer bill language for its EITC proposal is online here, as well as accompanying proposed budget bill language (see pages 3 through 5 in the pdf file, concerning Budget Bill Item 7730-001-0001 for the Franchise Tax Board). (Our office discussed options for a state EITC in a December 2014 report.)
Our office will release updated economic and state revenue projections within the next few days.