Saturday, November 26, 2022

Budget

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,...

May Budget Revise Focuses on Use of Record Surplus

The strong economic performance by key California industry sectors and entrepreneurs was reflected last week in the upward revision of the state’s general revenues...

We’ve Reached Peak Budget

The Legislative Analyst has cried “last call” for the state budget bash. Even as the State Legislature enjoys the prospect of spending record budget surpluses,...

Revenue Windfall Provides Opportunity

California’s mighty work-from-home economic engine continues to create massive value for workers, employers and entrepreneurs — and not incidentally for the state treasury. The nonpartisan...

Bill Proposes New Tax Despite Huge State Surplus

Governor Gavin Newsom’s January budget proposal forecasted another historic surplus estimated to be approximately $45 billion. As 2022 marches on, that surplus continues to...

Governor Signs Sick Leave, Small Business Relief Bills

Governor Gavin Newsom this week signed a bill package providing $6.1 billion in tax relief, tax credits and grants for small businesses hurt by...

Finance Director Says Budget Windfall Gives State Opportunity to Invest in Future

California’s revenues and economic conditions have continued to improve, enabling the state to address some of its greatest threats, such as climate change, the...

Legislature Passes Budget, Clearing Way for Real Negotiations

The Legislature fulfilled its constitutional obligation this week by approving a state budget just ahead of the June 15 deadline. But meeting the formal...

Revenue Surge Permits Huge Hike in Budget Plan

Relying on a “once in a lifetime” surge in state revenues, Governor Gavin Newsom is proposing a revised state budget for 2021–22 roughly $40...

Californians Can Thank ’70s Tax Revolt for Rebate of Budget Surplus $s

Most Californians will enjoy a one-time tax rebate or payment, courtesy of a massive state revenue windfall and a 42-year-old remnant of the Tax...