News/Blog

Firm Updates and Announcements

California State Budget Situation Is Murky

“The State of California's budget situation is in really murky waters,” says former Chief Deputy Director of the California Department of Finance, Tom Sheehy, Principal and Founder of Sheehy Strategy Group. “When the country gets a financial cold, California gets a severe case of influenza. We are very sensitive to changes in the economy.”

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Bay Area Gas-Furnace Ban Expected to Gouge Residents, Strain Ailing Electric Grid

As seen in National Review. A vote last week by the Bay Area’s air-pollution regulators to phase out and eventually ban the sale of new gas furnaces and water heaters in the Northern California region will be costly for residents, will further burden an already stretched electric grid, and will have minimal environmental impact, energy experts and economists told National Review.

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California Budget Historically Flush but Disagreements Delay Implementation

The California Senate and Assembly have agreed upon a two-party budget proposal, and they sent a bill (SB 154) down to the Governor on Monday June 13th. This budget is really just a placeholder to make sure that the legislature meets it is June 15 constitutional deadline and so that the state controller continues to pay lawmakers, while they hash out more specific details with Governor Newsom.

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Tom Sheehy Testifies in Support of Tax Deduction Reinstatement

On April 4, 2022, Tom Sheehy, testified before the California State Assembly’s Revenue and Taxation Committee in support of Assembly Bill 2065. The measure, authored by Assembly Member Blanca Rubio, will help California’s businesses to recover from COVID by reinstating the net operating loss (NOL) tax deduction for the 2020 and 2021 tax years.

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Beyond the Recall: California Regulations

California’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.

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