Commentary
It’s never enough for tax-giddy California legislators.
California taxpayers are so generous they will be funding a state budget of $300.7 billion. That’s according to the figure in Gov. Gavin Newsom’s May Revision of his budget proposal for fiscal year 2022-23, which begins on July 1. That includes an incredible surplus of $97.5 billion, by itself more than the entire budgets of 45 other states.
Yet on May 31, the California Tax Foundation came out with its latest (pdf) annual “Tax and Fee Report: Major Taxes and Fees Introduced in the California Legislature.” It uncovered 64 proposals, of which 51 are too difficult to figure out. But 13 laws, if all were enacted, would increase taxes and fees $195 billion a year. The two worst:…
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