05/05/2024

Tax Watch

California lawmakers introduced 39 bills and constitutional amendments in the current legislative
session that, if enacted, would increase taxes and fees by more than $272 billion annually — more than doubling the amount of state taxes and fees already paid. 2018 is the second year of a two-year legislative session, and the Legislature is on track to introduce more taxes and fees than in prior years.

Despite expected state budget reserves of nearly $16 billion, lawmakers continue to propose higher taxes and fees. The budget approved by the Legislature and governor forecasts that state revenue is growing, and that the state will collect approximately $195.2 billion in revenue for the 2018-19 fiscal year — about $7.2 billion more than in the prior fiscal year.

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