First Look: The Governor’s 2015-16 May Revision

On May 14, Governor Jerry Brown released the May Revision to his proposed 2015-16 state budget. With increased state revenues – partly the result of the Proposition 30 tax increases approved by voters in 2012 – and a growing economy, the Governor proposes to spend $115.3 billion from the state’s General Fund in 2015-16. The May Revision estimates $6.7 billion in higher General Fund revenues across the three-year “budget window” (2013-14, 2014-15, 2015-16) compared to January’s forecast.

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