California’s budget surplus continues to balloon, thanks to growing tax revenues from the state’s wealthiest citizens

It seems likely that most taxpayers will get some sort of rebate this summer, but officials in Sacramento can’t agree on just how much that should be

The latest budget proposal comes from the Democrats in the State Senate, who announced late last week that the state’s surplus has soared to a projected 68 billion dollars, a staggering number that would shatter the record set just last year, of $47 billion. Much of that surplus has to go into public education, but the Senate Democrats want to set aside billions more for the state’s rainy day reserve fund, and give $8 billion back to taxpayers in the form of $200 per person, up to $1000 for a family of five. They also propose rebates for businesses, as well as larger investments in solving homelessness, addressing climate change, and tackling deep poverty and access to health care.

For more on this, KCBS Radio's Eric Thomas, Patti Reising and Doug Sovern are joined by Scott Graves, Director of Research at the California Budget and Policy Center, the nonpartisan nonprofit based in Sacramento.