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Published 15 days ago

Lagging revenue continues to drive California budget deficit as deadline nears

Summary by Red Bluff Daily News
As the June 15 constitutional deadline for enacting a 2024-25 state budget approaches, the good news for Gov. Gavin Newsom is that all-important income tax revenues in April slightly exceeded the administration’s $16.3 billion assumption. Even so, the bad news is that overall revenues from income, sales and corporate taxes are still running $6 billion behind what Newsom’s January budget projected for the current fiscal year, meaning that cumulat…

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Red Bluff Daily NewsRed Bluff Daily News

Lagging revenue continues to drive California budget deficit as deadline nears

As the June 15 constitutional deadline for enacting a 2024-25 state budget approaches, the good news for Gov. Gavin Newsom is that all-important income tax revenues in April slightly exceeded the administration’s $16.3 billion assumption. Even so, the bad news is that overall revenues from income, sales and corporate taxes are still running $6 billion behind what Newsom’s January budget projected for the current fiscal year, meaning that cumulat…

15 days ago
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Santa Monica Daily PressSanta Monica Daily Press

Lagging revenue continues to drive budget deficit as deadline nears

As the June 15 constitutional deadline for enacting a 2024-25 state budget approaches, the good news for Gov. Gavin Newsom is that all-important income tax revenues in April slightly exceeded the administration’s $16.3 billion assumption. Even so, the bad news is that overall revenues from income, sales and corporate taxes are still running $6 billion behind what Newsom’s January budget projected for the current fiscal year, meaning that cumulat…

15 days ago
Read Full Article
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