Tag: California Budget
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...
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...
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 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...
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...
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...
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...
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...
State Finance Director to Review Governor’s 2022 Budget in Free Webinar
Update:
Calif. Finance Director Says Budget Windfall Gives State Opportunity to Invest in Its Future, January 13, 2022
Finance Director Keely Martin Bosler will be outlining...
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...
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 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...