California Governor Jerry Brown is not painting a very rosy picture of the state's economic future. During his budget unveiling today, Brown predicted California would bring in several billion dollars less in tax revenue in the next few years and could be staring at a two-billion dollar budget deficit by mid-2018.
1 of 1
(California) could be staring at a two-billion dollar budget deficit by mid-2018. Governor Jerry Brown.
Brown's pessimistic view of tax collections is due in part to what he calls uncertainty with the election of Donald Trump to the White House. He points out that California receives over 15-billion dollars from the federal government to pay for Obamacare's optional expansion of Medi-Cal, saying that money is not guaranteed if Trump and Washington Republicans follow through on their plans to dismantle Obamacare.