At least one state lawmaker is calling for Gov. Pete Wilson to declare a special legislative session to combat an increasing state budget shortfall.
Figures released last Thursday by the state Department of Finance show a $344 million shortfall in projected revenue collections for July, August and September. These first quarter projections represent about 20% of the projected revenues for the entire fiscal year.
The department cited a drop in personal income tax collections, reflecting the state's soft job market and continuing recession. Sales and use taxes were $128 million less than the $1.3 billion projected for September.
"This shortfall is serious and indicates a continuing weakness in the economy," the department said in a release.
Assemblyman Tom McClintock, R-Thousand Oaks, hopes a special session would give lawmakers an chance to cut taxes and speding to revive the economy.
Mr. McClintock voted against the state's current $55.7 billion budget and all of the governor's tax increase proposals that bridged a $14.3 billion budget deficit last July.
Assembly Speaker Willie Brown, D-San Francisco, has said he would support a special session to address budget problems, but Gov. Wilson has said it said too early for that.
Rating officials have indicated previously that California may lose its triple-A rating if any new budget problems are not addressed promptly.