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Selected highlights of what’s new in California public policy and politics

Economic Crisis as a Catalyst for Reform

Looking at trends in employment, income, consumer spending, and housing, California Forward predicts that the state’s budget crisis will be longer and more difficult than generally anticipated. Forecasting a drop of 11% over the next two years in the state’s three major revenue sources (sales and use taxes, income taxes, and corporate taxes), the authors argue that more serious, systemic reforms are necessary to prevent further fiscal turbulence.

This entry was posted on Friday, April 10th, 2009 at 1:25 pm and is filed under Public Finance, State Budget, Taxes. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.