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.In California: many always want tax increases.
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.
Tuesday, May 07, 2019
Gavin Newsom’s $209 billion budget calls for new taxes. Can he get them passed?
The Sacramento Bee reports: