SACRAMENTO — The Legislature's nonpartisan budget analyst agreed Monday with Gov. Jerry Brown that the state budget is balanced.
California has "reached a point where its underlying expenditures and revenues are roughly in balance after years of multi-billion-dollar deficits," analyst Mac Taylor said.
He commended the Democratic governor for emphasizing fiscal restraint and urged lawmakers to consider Brown's education reforms.
Last week, Brown released a $97.6 billion state spending plan for the upcoming fiscal year that projected a $1 billion reserve. Two months ago, Taylor had projected a more cautious outlook that forecast a $1.9 billion deficit.
Taylor said Monday that higher tax revenues, increased savings and repayment of loans account for the differences.