Tuesday, May 07, 2019

Gavin Newsom’s $209 billion budget calls for new taxes. Can he get them passed?

The Sacramento Bee reports:
Gov. Gavin Newsom has proposed new taxes and fees to fund health care subsidies, clean drinking water and tax credits for low-income families. But state revenue outpacing even his most optimistic predictions could present a challenge for him as he attempts to raise taxes.

Last month, corporate taxes came in at $3.4 billion, much higher than the Newsom administration’s estimated $2.6 billion. Income taxes also came in ahead of projections, making up for a shortfall earlier in the year, according to the Legislative Analyst’s Office.

If the trend continues, the state is looking at another big surplus this year.
In California: many always want tax increases.