Revenue features of California’s fiscal 2027 budget won support in the state Assembly Monday, including a new tax on cloud-based software, adjustments to the state’s tax on healthcare providers, and an extension of the current caps on business tax credits.
The two-bill revenue package also includes Gov. Gavin Newsom’s (D) proposed 100% levy on California taxpayers claiming payouts under President Donald Trump’s $1.8 billion “anti-weaponization fund,” although it’s unclear if the fund will ever be operational.
The tax provisions reflect revenue proposals folded into a $356 billion budget agreement reached late last week between Democratic leaders in the Assembly and ...
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