In June, California lawmakers approved a new state budget with a healthy $16 billion reserve, reflecting California’s strength as the fifth largest economy in the world. Now that the state has recovered from the depths of the Great Recession, it seems odd that lawmakers are still proposing higher taxes and fees.
Since the start of the year, the California Tax Foundation identified 91 bills placed before lawmakers for consideration that would increase taxes and fees by more than $272 billion annually. The foundation published this year’s first-quarter Tax Watch in March, and our July 2 update found that the cumulative amount of taxes and fees grew by $3 billion in the interim.
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