Tag: Budget
California Finance Director Projects Slow Economic Growth; No New General Tax Increases Planned to Cover Budget Shortfall
California is expected to see slow but steady revenue growth in the 2024–2025 fiscal year, requiring state leaders to cover a $37.8 billion budget...
Governor Proposes Belt-Tightening Budget Approach with No General Tax Hikes
It’s a problem, but not a crisis.
The state budget proposed by Governor Gavin Newsom would maintain the trajectory of state spending without major disruptions...
Finance Director to Review 2024 California Budget in Jan. 17 Webinar
California Finance Director Joe Stephenshaw will be outlining Governor Gavin Newsom’s 2024 budget priorities in a free online webinar presented by the California Chamber...
Governor Signs Infrastructure Streamlining, Budget Trailer Bills
This week, Governor Gavin Newsom signed into law a slate of bills to accelerate critical infrastructure projects across California that upgrade the electric grid,...
Governor Signs State Budget Bill; Talks on Trailer Bills Continue
Governor Gavin Newsom signed the state budget bill this week, but many other components of the state spending plan must still come together.
The final...
Prudent Budget Proposal Keeps Key Commitments, No Tax Hikes
Governor Gavin Newsom released his revised budget on May 12, revealing a larger revenue shortfall, higher estimated safety net spending, but even so not...
Senate Democrats Propose Higher Taxes on Businesses
California Senate Democrats this week unveiled a proposal that would increase taxes on California businesses to compensate for budget shortfalls. If passed, certain businesses...
Governor’s Budget Plans for Uncertain Economy
Governor Gavin Newsom presented a balanced budget this week with no new general tax increases. He identified a $22.5 billion “shortfall” between previously expected...
Adopted Budget Includes Targeted Tax Benefits, One-Time Increases
This week the Legislature passed, and the Governor signed a $300 billion state budget that includes a number of targeted tax benefits for businesses,...
