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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,...

Record Budget Surplus Calls for Tripling Down on UI Fund Offset

Californians have traveled a bumpy road to post-pandemic recovery, with healthy employment and wage growth on the one hand, but soaring inflation and cost-of-living...

Featured Speakers Outline State’s Strengths, Challenges

California Lieutenant Governor Eleni Kounalakis and California Chamber of Commerce Board Chair Kailesh Karavadra shared their perspectives on the state’s accomplishments and challenges at...
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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...
Guest Commentary by dee dee Myers

Extending CalCompetes Incentive Program Key to Job Growth, Statewide Investments

The COVID-19 pandemic triggered the deepest recession since the Great Depression. But just as the economic toll was steep, so is our economic recovery. Much...

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...

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...

State Leaders Should Use Budget Surplus to Restore Tax Incentives, Repay UI Debt

Only 18 months ago, expecting a massive pandemic-induced collapse of economic activity, California finance officials predicted a staggering $54 billion state budget deficit. The...

Business Groups Urge: Restore Tax Credits, Net Operating Loss Deduction

The California Chamber of Commerce and a coalition of business groups are urging state legislators to restore the net operating loss deduction and business...
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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...
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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...

$5.1 Billion Drought/ Water Infrastructure Plan Includes Water Supply/Reliability

Governor Gavin Newsom on May 10 unveiled a $5.1 billion plan for California’s water infrastructure, drought response and preparations for a “climate resilient system.” In...

Governor Announces $12 Billion Plan to Combat Homelessness

At a May 11 press conference, Governor Gavin Newsom announced a $12 billion package to address the homelessness crisis. The package is part of...

Governor’s Recovery Plan Includes Stimulus Checks, Rent Relief

Governor Gavin Newsom began the week by announcing a plan to provide financial relief to millions of Californians. The plan includes Golden State Stimulus payments...
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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...