California State Budget 2024-25
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California State Budget 2024-25

Brownstein Client Alert, Jan. 12, 2023

The threat of a significant budget deficit in California has been looming for several budget cycles—and now it is here. Despite earlier estimations of a deficit in the $60 billion range, the governor’s January budget estimates a $37.9 billion shortfall, primarily rooted in the substantial decline in the stock market that drove down revenues in 2022 and the unprecedented delay in critical income tax collections.

Find our full analysis here.  


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