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The budget will provide spending for the 2024-25 fiscal year, which begins July 1. Rivas and McGuire touted funding the Legislature received for spending Newsom proposed cutting in his budget.
The governor’s revised budget would suspend a net operating loss tax deduction for businesses with California income of more than $1 million during tax years 2025, 2026 and 2027.
The California Supreme Court is weighing whether to keep a measure off the November ballot that would make it harder for the state and local governments to raise taxes, in a legal battle pitting ...
Another ballot measure, that would replace the two-thirds vote requirement to pass local taxes and bonds with a 55% majority vote for public infrastructure and affordable housing, looked unlikely ...
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California last year was slated to get $19.4 billion from that tax, which the state Department of Health Care. The additional $1.5 billion brings the total to $20.9 billion through 2026.
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