SACRAMENTO – Despite insisting he isn’t raising taxes, Governor Gavin Newsom’s revised budget appears to include multiple tax increases that could impact businesses in California. As Dan Walters wrote in CalMatters, an analysis of Newsom’s budget reveals several tax hikes.
“Whether he’s cooking the books to make the budget deficit look smaller or insisting he’s not raising taxes while sneaking backdoor tax hikes into the fine print, Newsom just can’t be straight with Californians,” said Assembly Republican Leader James Gallagher. “Newsom’s mismanaged budget is going to close businesses, kill jobs and continue to damage our economy.”
The proposed tax increases are part of a broader strategy that includes higher payroll taxes aimed at addressing the state’s significant unemployment insurance debt. Critics argue that these measures will contribute to California maintaining one of the highest unemployment rates in the country.
