In 2023, California saw one of the largest budget deficits in the history of the state. After months of lower-than-average tax revenues, the shortfall has prompted lawmakers to consider enacting substantial spending cuts to balance the state’s budget. At the same time, California policy leaders – 16 percent – emphasized that taxation is a top policy concern. Policymakers cite specific concerns about high taxes in the state and highlight the need to find solutions that allow California businesses and communities to prosper.
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