End of the 2024 California Legislative Session will bring intrigue and surprises as we approach the deadlines for actions.
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In a new video released by the Sheehy Strategy Group, Tom Sheehy provides a sobering overview of key business legislation that emerged from the recently concluded first year of California's two-year legislative session.
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To further complicate things for Governor Newsom and his Department of Finance, the day after the governor's May revision was released on May 13, the Legislative Analyst's Office came out and said that the governor's revenue numbers were “plausible but unlikely.” The analyst estimates there is about $11 billion less in revenue than the governor's May revision originally calculated.
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On Friday, May 12, 2023, Governor Newsom released his revision to the state budget he first unveiled in January. When Governor Newsom provided his budget to the Legislature in January, it was intended to solve a $21.5 billion budget deficit. The deficit was a shock following last year when the Governor was touting a budget surplus of almost $100 billion.
Read MoreCalifornia’s legislative session has just wrapped up and the Governor’s recall election is now behind us. With the failure of the recall of Governor Newsom now behind us, there is less political turbulence in Sacramento.
Democrats still hold supermajorities in both houses of the Legislature, making it much easier to pass highly progressive majority vote bills in the labor, environmental, and consumer protection areas.
And that means you need to have a solid strategy for navigating California’s political landscape.
Tom Sheehy’s analysis on the 2020-21 Governor’s Budget & CA economy, as well as the potential landmines that could hurt the CA fiscal condition and why tax policy matters.
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