Tag: California Budget

Loren Kaye

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...
CalChamber Advocacy

CalChamber Issues Statement on Governor’s 2024 Budget Release

The California Chamber of Commerce today released the following statement in response to the Governor’s outline of funding priorities for 2024: “Governor Newsom is doing...
California State Capitol Dome

Sacramento Snapshot: What to Watch for in the Legislature This Year

From a looming budget deficit to tackling AI, here's what lobbyists in Sacramento are looking at in 2024 There’s a heavy cloud over Sacramento when...

California Revenue Shortfall Tagged at $58 Billion, May Worsen Next Year

California’s famously volatile tax machine has delivered another dose of unpredictability. According to the nonpartisan Legislative Analyst’s Office (LAO), the state suffered a $26...
California Capitol

Transit, Child Care Are Among The Sticking Points In California’s $300 Billion Budget Negotiations

California lawmakers passed a budget Thursday to ensure they keep getting paid, but it’s a blueprint unlikely to become law because the Democrat-controlled Legislature...

Governor’s Budget Plans for Uncertain Economy

Governor Gavin Newsom presented a balanced budget with no new general tax increases. He identified a $22.5 billion “shortfall” between previously expected revenues and...

California Finance Department Spokesperson Explains How State Went From Record Budget Surplus to Possible...

California is no stranger to economic booms and busts. But 2022 may be a prime example of how quickly and drastically the state's fiscal...

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...
Loren Kaye

Unprecedented Budget Surplus Is Focus of May Revision

To nobody’s surprise, Governor Gavin Newsom on Friday announced another upward revision in the state’s general revenues—a $55 billion bump since January. To the...
CalChamber Advocacy

CalChamber Issues Statement on Governor’s May Revision

California Chamber of Commerce President and CEO Jennifer Barrera issued the following statement in response to Governor Gavin Newsom’s May Budget Revision released today: “We...
Loren Kaye

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, its...
Loren Kaye

Gas Prices and the Gann Limit

Nothing shouts “cost of living” quite as loudly as gasoline prices in Los Angeles averaging $6.01 a gallon. Inflation has reached a 40-year high...
Keely Martin Bosler, Director of the California Department of Finance

Calif. Finance Director Says Budget Windfall Gives State Opportunity to Invest in Its 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...
Loren Kaye

Governor Newsom has Proposed the Fourth State Budget of His Term, and It’s a...

The proposed budget tops out at more than a quarter-trillion dollars, larger than the entire economies of Vietnam, the Czech Republic or Portugal. The...
Loren Kaye

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...
Loren Kaye

Legislature Passes Budget, Clearing the Way for Real Budget 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...

State Expects to Receive Surplus Revenue, But Sees Deficits on the Horizon

Despite enjoying a record $34 billion budget surplus and prudent reserves from burgeoning but one-time tax revenues, California budget officials expect to see fiscal...
CalChamber Advocacy

CalChamber Applauds Governor’s Proposed Grants for Small Businesses

Today, as part of his budget announcement, Governor Gavin Newsom proposed adding much-needed financial relief for California employers in the form of tax credits/tax...

State Finance Director to Review Governor’s 2021 California Budget in Free Webinar

Finance Director Keely Martin Bosler will be outlining Governor Gavin Newsom's 2021 budget priorities in an online webinar presented by the California Chamber of...

Legislative Analyst Takes First Look at Coronavirus Impact on State Budget

Economic uncertainty due to the coronavirus (COVID-19) pandemic will create logistical and financial challenges for the state budget, the state Legislative Analyst commented this...