Sunday, July 14, 2024

Budget

Analysis: May Budget Revision Released

Governor Newsom announced his strategy to address an estimated $27.6 billion deficit for the upcoming budget year, and a $28.4 billion projected deficit for...

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...

State Budget Deficits Tagged at $68 Billion; Revenue Estimate May Worsen Next Year

California’s famously volatile tax machine has delivered another dose of unpredictability.

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...

Budget: CalChamber Supports CalCompetes Tax Credit

The California Chamber of Commerce is supporting the Governor’s budget proposal to provide $120 million to fund a third year of the California Competes...

Budget: CalChamber Backs Film/TV Tax Credit

The California Chamber of Commerce is supporting the Governor’s budget proposal to extend the film and television tax credit, which has proven effective at...

Budget: CalChamber Backs COVID Sick Leave Grants

The California Chamber of Commerce is supporting the Governor’s budget proposal to allocate $250 million for relief grants to help small businesses and nonprofits...

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,...