Govern For California

Believe it or not, California’s top income tax rate is scheduled to decrease by three percentage points after 2030 upon the expiration of a temporary tax increase, which started as a seven-year increase passed by voters in 2012 via a ballot measure entitled “Temporary Taxes to Fund Education” and was extended to 2030 by a subsequent ballot measure.

Last year, Governor Newsom and the California Legislature took nearly $5 billion from the Rainy Day Fund to cover excessive spending.

Last week we pointed out that, contrary to his claims, Governor Newsom’s proposed budget is not balanced. Today we examine his claim on page 85 to “government efficiency and cost saving measures” that produce a savings of $618 million from eliminating vacant positions.