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According to a June Tax and Fee Report from the California Tax Foundation, during the first five months of 2024, as the Legislature began the second half of its 2023-24 session, state lawmakers considered increasing taxes and fees by more than $196.5 billion a year. This includes a package of business tax increases contained in the state budget already approved by lawmakers.
These taxes and fees were introduced as lawmakers and the governor face a budget deficit that the Department of
Finance recently projected to be approximately $27.6 billion.
During the first year of the 2023-24 session, the Legislature and governor approved more than $10.4 billion in
higher taxes and fees.
California has the highest unemployment rate in the United States. As out-of-work Californians struggle to make ends
meet, many of the tax proposals in this report would not only make the state less affordable, but also would make it
more costly for employers to hire workers
The Tax and Fee Report is a regular publication of the California Tax Foundation, updated throughout the year to reflect new legislative proposals. The report includes any measure estimated to cost $1 million or more per year in higher taxes or fees.
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