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Newsom's plan seeks to solve the budget deficit for the next two budget years, including additional cuts, reductions and delays to solve an estimated $28.4-billion deficit in 2025-26. State Sen ...
The tug-of-war between California Gov. Gavin Newsom and the nonpartisan Legislative Analyst’s Office over the state’s projected budget deficit took a new turn Tuesday, when the LAO announced a ...
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.
In the table, the fiscal years column lists all of the fiscal years the budget covers and the budget and budget per capita columns show the total for all those years. Note that a fiscal year is named for the calendar year in which it ends, so "2022-23" means two fiscal years: the one ending in calendar year 2022 and the one ending in calendar ...
California's budget difficulties were compounded last year when the state and federal government delayed the deadline to file 2022 income tax returns from April to November due to winter storms ...
Gov. Gavin Newsom and Democrats in the California Legislature reached a deal to solve the budget deficit for the 2024-25 fiscal year.
Lawmakers are “clearing the decks” of easier budget ideas as a projected deficit of up to $73 billion looms. California lawmakers approve $17 billion in budget fixes. How they would impact the ...
California is facing a record $68 billion budget deficit, state officials announced Thursday, forcing hard choices for Democratic Gov. Gavin Newsom in his final term as he works to build his ...
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