Today's another red letter day in state budget news, with the Legislative Analyst's Office releasing its revenue forecast for the current fiscal year.
Previous numbers from the state Finance Department and from Controller John Chiang haven't been good, with Finance saying Monday that the state is almost $1.3 billion behind estimates and Chiang pegging the gap last week at $1.5 billion for the first four months of 2011-2012.
Legislative Analyst Mac Taylor holds a news conference at 1:30 p.m. to discuss the forecast, which the LAO says will be posted on its website by 11:30 a.m.
Meanwhile, University of California student regents and student leaders from UC Berkeley and UC Davis have scheduled a presser in Sacramento calling on state lawmakers to invest in public higher education and demanding new state revenue sources. That news conference, which follows protests Tuesday at UC Davis and UC Berkeley, starts at 10:30 a.m. in the Capitol's Room 444.
Lt. Gov. Gavin Newsom, meanwhile, will be in the south state at the California State University trustees meeting, where they're expected to vote sometime this morning on a proposal to raise tuition 9 percent. It's no secret which way Newsom will vote. He turned thumbs down on to the tuition hike that CSU trustees approved in July, and he put out a statement late Tuesday saying he would ask his colleagues to join him in rejecting the latest increase.
HEARINGS: A select committee looks at opportunities for clean energy manufacturing in the state starting at 10 a.m. in the Capitol's Room 127. Farther afield, a joint Senate and Assembly committee looks at intelligent transportation systems at a hearing from 1 to 4 p.m. in Long Beach City Council Chambers.
RECESS: Sen. Lou Correa, D-Santa Ana, joins Controller John Chiang at a small business seminar in Anaheim. Assemblyman Das Williams, D-Santa Barbara, kicks off a fundraiser at a Ventura charter school. Sen. Sam Blakeslee, R-San Luis Obispo, talks to the Silicon Valley Association of Republican Women in Los Gatos. Assemblyman Richard Pan, D-Sacramento, helps cut a ribbon at a new CVS Pharmacy in the capital city. Assemblyman Mike Eng, D-Monterey Park, hosts a turkey giveaway in El Monte. And Assemblywoman Shannon Grove, R-Bakersfield, is in Orinda addressing a Lamorinda Republican Women luncheon.